The traditional US conception of business entities is that they exist to
earn profits for their equity owners. Well-developed legal doctrines support this corporate purpose. But emergent companies seek to earn profits while pursuing a social mission One of the many examples is 4ocean, which sells bracelets made from recycled materials and uses a portion of the profits to remove one pound of ocean plastic pollution for every bracelet sold . . .
Mutual funds are captives of the investment management firms, also known as fund sponsors, that bring them into existence and provide for their day-to-day operations. Because fund sponsors exercise complete control over the operations of their funds, the possibility arises that a fund sponsor will use its position of control to obtain advisory fees that are greater than those that would have been established by arm’s-length bargaining . . .
A robust literature addresses tools that a corporation may use to shape its shareholder base. The motivation for most such research is how to promote long investor time horizons, presumed to be a valuable but rare appetite among many shareholders. While still useful and valuable, this literature requires substantial revision and updating which this Article accomplishes in three ways . . .
The ESG-based investment is becoming an integral part of financial accounting in the corporate world, fueled by concerns over climate change, oil spills, and corporate misconducts. ESG investment is an umbrella term for an investment strategy that emphasizes the corporate governance structure or the environmental or social impact of a company's products and practices . . .
After the Global Financial Crisis, central banks became identified as banks’ closest allies, rescuing them from failure when things go wrong. Banks, in turn, emerged as complex and unstable institutions that privatize profits and socialize losses, to the despair of taxpayers. And regulation and regulators were seen as incapable of curbing financial excess. The coronavirus pandemic only exacerbated the generally negative sentiment . . .
In the age of cameras living in our pockets, it seems as though every moment demands us to be “picture-perfect.” This demanded perfection has greatly benefited the fashion industry, especially the niche industry of “fast fashion.” From t-shirts and shoes to accessories, high-end companies have been known to set the trend for the season, and as of late, fast fashion companies have emerged as the low-budget stepsister . . .
From Pac-Man arcade to Fortnite, video games have been a significant part American pop culture for generations, bringing feelings of nostalgia and thrill to all ages. But what is it that continues to drive America’s love of video games? The revenue produced by the video game industry has surpassed that generated by Hollywood in recent years. In fact, the “most profitable entertainment product of all time,” Grand Theft Auto V, is a video game . . .
Imagine, someone is listening to their new favorite album when, suddenly, their Bluetooth earbuds stop working. They consider heading to the department store, but quickly remember that they can probably get a better deal, plus free two-day shipping, with their Amazon Prime account. Within minutes they have explored several options and chosen a pair at a bargain price—but just to be careful, they made sure to check for positive reviews . . .
The U.S. is a world leader in biopharmaceutical research and development. The biopharmaceutical industry in the U.S. accounts for approximately one third of the global market, making it the largest market in the world. Accordingly, the economic power of the biopharmaceutical industry within the U.S. is significant, and this economic aspect of the industry has generated substantial profits for U.S. pharmaceutical companies . . .