The Modern Corporation and Private PropertyTransaction Publishers, 1991 M01 1 - 380 páginas This monumental work on the corporation is one of those enduring classics that many cite but few have read. Graced with a new introduction by Weidenbaum and Jensen, this new edition makes this classic available to a new generation. Written a half century ago, "The Modern Corporation and Private Property "remains the fundamental introduction to the internal organization of the corporation in modern society. Combining the analytical skills of an attorney with those of an economist, Berle and Means raise the central questions, even when their answers have been superseded by changing circumstances. The book's most enduring theme is the separation of ownership from control of the modern corporation and its consequences. Berle and Means display keen awareness of the divergent interests of directors and managers, and of each from owners of the firm. Among their predictions are the characteristic increase in size of the modem corporation and concentration of the economy. The authors view stock exchanges and stock markets as essential by-products of the rise of the modem corporation, and explore how these function. They address the difficult questions of whether corporations operate for the benefit of owners or managers, and explore what motivates managers to make effective use of corporate assets. Finally, they examine the role of the corporation as the prevailing form of organizing the production and distribution of goods and services. In their new introduction, Weidenbaum and Jensen, co-directors of the Center for the Study of American Business at Washington University, critically assess the impact of developments not fully anticipated by Berle and Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation. They note the authors' prescient observations, including the complex role of and motivating influences on professional managers, and the significance of inside information on stock markets. As they note, "The Modern Corporation and Private Property "remains of central value to all those concerned with the evolution of this major social institution of the twentieth century. Scholar and practitioner alike will find it of enduring significance. |
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Resultados 1-5 de 74
... owners of the firm , and they often do so . This separation between ownership and control of a corporation through expanded ownership of the company creates what Berle and Means call the quasi - public corporation . The characteristics ...
... owners once exercised over management . With this undaunted power , management supposedly pursues its own interest , oblivious to the welfare of the owners . A contrary view has been developed in more recent years . According to Harold ...
... owners and , as these interests move further apart , " the control " will ultimately lie in the hands of the management . Berle and Means provide an early and earthy statement of the agency problem : those who control the corporation ...
... owners of corporate shares . The prescience of the authors is especially evident in Book III , Chapter III , where they describe the problem of insider information . They state that the legal system can only choose randomly of the many ...
... owners of the firm . The authors then question this by analyzing the profit incentive to the executives . According to the authors , executives have such an " insignificant " fraction of traditional property rights that the incentive of ...
Contenido
viii | |
xix | |
xli | |
Preface 1932 | li |
THE APPEARANCE OF THE CORPORATE SYSTEM | 11 |
TABLE | 50 |
35 | 85 |
39 | 98 |
CORPORATE POWERS AS POWERS IN TRUST | 219 |
THE RESULTANT POSITION OF THE STOCKHOLDER | 244 |
Security | 253 |
FLOTATION And bankers DISCLOSURE | 264 |
Effects of | 291 |
THE TRADITIONAL LOGIC OF PROFITS | 299 |
THE NEW CONCEPT OF THE CORPORATION | 309 |
Appendixes | 317 |
52 | 106 |
OWNERSHIP AND CONTROL | 112 |
POWER OVER PARTICIPATIONS ACCRUING TO SHARES | 141 |
POWERS OVER THE ROUTING OF EARNINGS | 171 |
POWER TO ALTER THE ORIGINAL CONTRACT RIGHTS | 186 |
THE LEGAL POSITION OF CONTROL | 207 |
Statistical Appendix to Revised Edition | 343 |
CHART | 353 |
Table of Cases | 363 |
Index | 375 |
70 | 379 |
Otras ediciones - Ver todas
The Modern Corporation and Private Property Adolf A. Berle (Jr.),Gardiner Coit Means Vista de fragmentos - 1968 |
The Modern Corporation and Private Property Adolf A. Berle (Jr.),Gardiner Coit Means Vista de fragmentos - 1968 |