DEFENDING ESG: A NEW STANDARD OF REVIEW FOR DEFENSIVE MEASURES THAT IMPACT ESG RATINGS

DEFENDING ESG: A NEW STANDARD OF REVIEW FOR DEFENSIVE MEASURES THAT IMPACT ESG RATINGS

The permissiveness of corporate defensive measures has been debated since their inception in the mid-1900s. Courts, scholars, and practitioners have grappled with the costs and benefits of these measures to both shareholders and society at large--and for good reason. On one hand, scholars and practi...

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Veröffentlicht in:University of Pennsylvania law review 2022-12, Vol.171 (1), p.203
1. Verfasser: Hovatter, Nicole R
Format: Artikel
Sprache:eng
Schlagworte:
Acquisitions and mergers
Corporate governance
Environmental aspects
Environmental stewardship
Greenmail
Laws, regulations and rules
Political aspects
Social aspects
Social responsibility
Sustainability reporting
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Zusammenfassung:The permissiveness of corporate defensive measures has been debated since their inception in the mid-1900s. Courts, scholars, and practitioners have grappled with the costs and benefits of these measures to both shareholders and society at large--and for good reason. On one hand, scholars and practitioners argue that defensive measures erode shareholder value by entrenching management, while on the other hand, supporters view defensive measures as valuable tools that allow target boards to appropriately defend against inadequate takeover bids.
ISSN:0041-9907
1942-8537