Limited Liability in the Theory of the Firm

Susan E. Woodward

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Corporate Finance and Governance Corporate Governance and Law Law, Economics, and Judicial Systems

Abstract

This chapter contains section titled: When is Risk-Aversion not the Issue? Costs of Extending Liability to Shareholders Costs of Limiting Liability Limited Liability and the Tort Creditors Conclusion

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1996Production, Information Costs and Economic Organization 1972Essays in the Theory of Risk-Bearing.1911The Constitution and Finance of English, Scottish, and Irish Joint-Stock Companies to 1720.1976The Rights of Creditors of Affiliated Corporations 1967Our Two Corporation Systems: Law and Economics

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2004Economic Analysis of the Law 2007Putting the Corporation in its Place 2007The death blow to unlimited liability in Victorian Britain: The City of Glasgow failure 2005Much ado about nothing: the limitation of liability and the market for 19th century Irish bank stock 2006The impact of limited liability on ownership and control: Irish banking, 1877–19141 2011Organisational flexibility and governance in a civil-law regime: Scottish partnership banks during the Industrial Revolution 2008Pouvoir et propriété dans l’entreprise. Pour une histoire internationale des sociétés à responsabilité limitée

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