Corporations and social costs: the Wal-mart case study

Sheehy, B 2004, 'Corporations and social costs: the Wal-mart case study', Journal of Law and Commerce, vol. 24, no. 1, pp. 1-55.

Document type: Journal Article
Collection: Journal Articles

Title Corporations and social costs: the Wal-mart case study
Author(s) Sheehy, B
Year 2004
Journal name Journal of Law and Commerce
Volume number 24
Issue number 1
Start page 1
End page 55
Total pages 54
Publisher University of Pittsburgh, School of Law
Abstract This article examines the role of the corporate vehicle in the creation of social costs. The article identifies some of the political commitments and philosophies behind the differing notions of corporations. Social costs are those activities which result from business activity and cause uncompensated harm to society. The founding contribution to the law and economics discussion by Ronald Coase is given a thorough treatment. The paper next, turns to the dominant explanation of corporate structure, namely the law and economics model developed expounded by Easterbrook and Fischel. It then applies the theoretical discussion in a case study of the world's largest corporation, WAL-MART, Inc. It next examines the relation of social costs and corporate legal structure. It concludes with some recommendations for corporate reform.
Subject Corporations and Associations Law
Copyright notice Copyright #169; 2006 by the author.
ISSN 0733-2491
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