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« April 2015 »

Symposium on Limiting Shareholder Rights: Entrenching Management or Establishing Commitments?

Tuesday, April 14, 2015

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Notre Dame Law School, Faculty Meeting Room

Traditional agency theory interprets limits to shareholder rights as entrenching corporate management and is likely to lower shareholder value. At this symposium, some new results challenging this interpretation are presented and discussed. If shareholders have limited information and limited commitment to the firm, this may threaten firms engaged in long-term projects and firms dependent on long-term relationships with other stakeholders.…

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Nudging--Theory and Applications

Friday, April 17, 2015

University of Lucerne

In Nudge – Improving Decisions About Health, Wealth, and Happiness (2008) Cass R. Sunstein and Richard Thaler propose to correct cognitive biases via libertarian paternalism (paternalism without coercion). By means of defaults, for example, people can be "nudged" in the desired direction. A textbook example for a default is the objection clause in organ donation according to which every human being is considered to be a donor after death unless explicitly opting out during their lifetime.…

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