The Team Production Model as a Paradigm

56 Pages Posted: 8 Jul 2014 Last revised: 23 Aug 2014

See all articles by Brian R. Cheffins

Brian R. Cheffins

University of Cambridge - Faculty of Law; European Corporate Governance Institute (ECGI)

Date Written: August 2014

Abstract

This paper forms part of the proceedings for the 6th Annual Berle Symposium (2014), which focused on Margaret Blair and Lynn Stout’s 1999 Virginia Law Review article “A Team Production Theory of Corporate Law” (available at http://ssrn.com/abstract=425500). Blair and Stout suggested a few years after the publication of their 1999 article that their team production model was poised to emerge as part of a new corporate law “paradigm” in the sense that Thomas Kuhn deployed the term in his widely cited The Structure of Scientific Revolutions. This paper revisits Blair and Stout’s team production theory by offering a critique of this claim and in so doing draws upon key corporate law theories and trends to offer insights concerning their model.

Keywords: team production, corporate law theory, managerialism, shareholder primacy, nexus of contracts, shareholder activism, hedge funds

JEL Classification: G34, K22, L21

Suggested Citation

Cheffins, Brian R., The Team Production Model as a Paradigm (August 2014). European Corporate Governance Institute (ECGI) - Law Working Paper No. 262/2014; University of Cambridge Faculty of Law Research Paper No. 38/2014. Available at SSRN: https://ssrn.com/abstract=2463086 or http://dx.doi.org/10.2139/ssrn.2463086

Brian R. Cheffins (Contact Author)

University of Cambridge - Faculty of Law ( email )

10 West Road
Cambridge, CB3 9DZ
United Kingdom
+44 1223 330084 (Phone)
+44 1223 330055 (Fax)

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

Register to save articles to
your library

Register

Paper statistics

Downloads
433
rank
64,955
Abstract Views
2,489
PlumX Metrics
!

Under construction: SSRN citations will be offline until July when we will launch a brand new and improved citations service, check here for more details.

For more information