Advice and Consent: An Alternative Mechanism for Shareholder Participation in the Nomination and Election of Corporate Directors

@inproceedings{Grundfest2004AdviceAC,
  title={Advice and Consent: An Alternative Mechanism for Shareholder Participation in the Nomination and Election of Corporate Directors},
  author={Joseph A. Grundfest},
  year={2004}
}
  • Joseph A. Grundfest
  • Published 2004
The principle of comparative advantage is central to modern economic analysis. It suggests that societies benefit greatly when they are organized to promote functional specialization. The same principles of comparative advantage and functional specialization are expressed in electoral systems. Indeed, one of the many reason to prefer representative democracy to direct democracy is that representative democracy allows for the evolution of a “governing class” that specializes in forms of decision… CONTINUE READING

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Electing Directors

Jie Cai, Jacqueline L. Garner, Ralph A. Walkling
2007
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