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an attorney with those of an economist, Berle and Means raise the central questions, even when their answers have been superseded by changing circumstances.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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... representing property devoted to production ( as contrasted with property devoted to consumption ) . The last great bastion of individually owned productive property- agriculture — has been dramatically declining in proportion to the ...
... represented by individually controlled agriculture has been relatively declining . American economics at present is dominantly , perhaps overwhelmingly , industrial . The effect of this change upon the property system of the United ...
... representing produc- tive assets and enterprise is in the form of stock of corporations . In addition , a substantial ... represented by individual " holdings " of stocks , bonds , and other liquid claims . Based on the figures to date ...
... represents an expectation that a portion of the profits remaining after taxes will be declared as dividends , and that in the relatively unlikely event of liquidation each share will get its allocable part of the assets . The former ...
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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 |