The Yale Law Journal

Lucian Arye Bebchuk

Essay

Vigorous Race or Leisurely Walk: Reconsidering the Competition over Corporate Charters

Lucian Arye Bebchuk & Assaf Hamdani

112 Yale L.J. 553 (2002)

Does American corporate law work effectively to enhance shareholder value? The recent corporate governance crisis makes this time as good as any for reexamining the basic structure of this body of law. This Essay provides such a reconsideration of a defining feature of U.S. c…