1st Edition
Swords Into Dow Shares Governing The Decline Of The Military- Industrial Complex
By Rachel Weber
Copyright 2001
234 Pages
by
Routledge
236 Pages
by
Routledge
236 Pages
by
Routledge
Also available as eBook on:
Contemporary legal doctrine holds that corporate managers have obligations, first and foremost, to maximize profits for their shareholders. This doctrine is based on the assumption that shareholders alone bear the financial risks and contribute the equity necessary for production. But what if other groups contribute assets and also risk losing their investments? What if other groups actually... Read more
* List of Acronyms * Preface * Acknowledgments * Introduction * The Realm of Law * The Case of Defense Adjustment * Making Government Contractors More Accountable * Implications * 1. Crisis of Corporate Governance * The Contractarian Paradigm: Shareholder Primacy in a Nexus of Contracts * Enabling Institutions * Challenging Models and Institutions * The Need for a New Model * 2. Governing Defense Contractors * The Organization of the U.S. Defense Industry * Managing Uncertainty * Multiple Principals, Multiple Goals * Managing Uncertainty by Shifting Risks * Contractors' Fiduciary Obligations to the Public * 3. Adjusting to the Drawdown * The Downturn in Defense Spending * Corporate Responses * The Post-Cold War Regulatory Regime * State Support for Shareholder Primacy * Conclusion * 4. General Dynamics: The Shareholder Success Story of the 1990s * Warning Signs * Shareholder Values * Sticking to Its Knitting * Reorganizing Production at Electric Boat * Conclusion * 5. Redistributing Risks and Rents at General Dynamics * The State and Taxpayers as Risk-Bearers * Employees and Local Governments as Risk-Bearers * Conclusion * 6. Accommodating Public Interests in Corporate Change * Accountability through Popular Participation * Accountability through Contracts and Regulation * Accountability in Practice * Accountability through Corporate Governance Reform * Conclusion * References
Biography
Rachel Weber
