The Yale Law Journal

Jesse M. Fried


The Uneasy Case for Favoring Long-Term Shareholders

Jesse M. Fried

This Article challenges a persistent and pervasive view in corporate law and corporate governance: that a firm’s managers should favor long-term shareholders over short-term shareholders, and maximize long-term shareholders’ returns rather than th…


Insider Abstention

Jesse M. Fried

113 Yale L.J. 455 (2003)

Scholars writing on insider trading have long believed that insiders can beat the market simply by using nonpublic information to decide when not to trade. Using a simple model, this Essay has shown that the conventional wisdom is wrong. Insiders prevented from trading while …