Welcome to the Harvard Business Law Review—a premier forum for discourse and scholarship at the intersection of law and business currently inviting submissions for our Volume XV Print Edition (2024-2025). Situated within one of the world’s foremost legal institutions, the Review stands as a bastion of critical thought and a distinguished voice in the analysis of both contemporary and enduring issues in business law.
Our pages host a meticulously curated selection of articles, essays, and commentary from respected legal scholars, seasoned practitioners, and emerging thinkers from across the globe. Here, tradition meets innovation: age-old doctrines are scrutinized through modern lenses, and revolutionary ideas are tempered by classical wisdom.
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Featured Article
Shifting Influences on Corporate Governance: Capital Market Completeness and Policy Channeling
Ronald J. Gilson and Curtis J. Milhaupt
Corporate governance scholarship is typically portrayed as driven by single factor models, for example, shareholder value maximization, director primacy or team production. These governance models are Copernican; one factor is or should be the center of the corporate governance solar system. In this essay, we argue that, as with binary stars, the shape of the governance system is at any time the result of the interaction of two central influences, which we refer to as capital market completeness and policy channeling. In contrast to single factor models, which reflect a stable normative statement of what should drive corporate governance, in our account the relation between these two governance influences is dynamic.