Legal institutionalism: Capitalism and the constitutive role of law

Deakin, Simon; Gindis, David; Hodgson, Geoffrey M.; Huang, Kainan; Pistor, Katharina

doi:10.1016/j.jce.2016.04.005

Cited by 146 publications

(34 citation statements)

References 62 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…A closer look, therefore, points to the fact that the relevant legal institutional changes did not occur at a specific point in time, but that such a change was a complex, multifaceted and often intertwined process, the outcomes of which could be quite different, depending on the larger economic setting. This can also be seen in the recently diagnosed 'varieties of capitalism' (Hall and Soskice 2001), whose legal roots should not be overestimated either (Deakin et al 2017). As criticism of certain institutional economic assumptions, in particular, has shown, the economic effects of institutional changes cannot be measured and attributed as clearly as the relevant literature claims (Kopsidis, Bromley 2016).…”

Section: The Economic Effects Of Legal Institutionsmentioning

confidence: 97%

Introduction: Business and the Law

Pahlow

Teupe

2019

Management & Organizational History

View full text Add to dashboard Cite

Section: The Economic Effects Of Legal Institutionsmentioning

confidence: 97%

Introduction: Business and the Law

Pahlow

Teupe

2019

Management & Organizational History

View full text Add to dashboard Cite

“…As it defines only decision procedures and rights, it is seen as an effective mode of governing under increasing levels of uncertain (Grandori 2010(Grandori , 2019. Emphasis is also placed on the fact that the corporation is not a pure economic and transactional organization (Deakin et al 2017). For example, the importance of entity shielding has been demonstrated (Hansmann and Kraakman 2000), along with that of corollary risks to the corporate veil (Millon 2007).…”

Section: State/private and Aggregate/separate Entities: The Main Dimementioning

confidence: 99%

When the Law Distinguishes Between the Enterprise and the Corporation: The Case of the New French Law on Corporate Purpose

2020

View full text Add to dashboard Cite

A recent French reform has revised the legal definition of the corporation. In essence, the law stipulates that the corporation must be run with due regard to the social and environmental impacts of its activity. It also introduces the notion of raison d'être and affords the possibility for any corporation to assign social or environmental purposes to itself, defined in its bylaws. This reform is similar to recent reforms in the UK and the US, but is based on an original and distinctive theoretical argument. The aim of our article is to analyze the fundamental tenets of this reform and their implications for the theory of the corporation. It shows that the new law is based on a new positive definition of the enterprise as not only an economic organization or a productive entity, but more fundamentally a space for innovative collective action. We argue that this view of the enterprise challenges our conceptualization of the corporation in two important ways. First, it shows that the traditional theories overlook the activities of the enterprise and their related impacts, and that the corporation is not necessarily the appropriate legal vehicle for the innovative enterprise. Second, it suggests that the stipulation of the enterprise's purpose or raison d'être in the corporate by-laws can provide new promising legal foundations for corporate responsibility.

show abstract

“…It is untrue that North depicted institutions as influencing behaviour only 'by acting as constraints on individual action'. 11 10 Marxism wrongly treats legal forms as part of the social 'superstructure': Law is seen as epiphenomenal rather than constitutive (Deakin et al, 2016;Hodgson, 2015a).…”

mentioning

confidence: 99%

“…Broader interpretations lead to extremely difficult empirical and conceptual problems'. Similarly, inspired by Commons (1924), Hodgson (2015a) and Deakin et al (2016) promote a historically specific 'legal institutionalism', where legal foundations help constitute concepts such as property, exchange and the firm.…”

mentioning

confidence: 99%

See 1 more Smart Citation

Introduction to the Douglass C. North memorial issue

Hodgson

2016

Journal of Institutional Economics

Self Cite

View full text Add to dashboard Cite

This introduction considers the highly influential contribution of Douglass C. North to economic history and institutional economics, as it developed from the 1960s until his death in 2015. It sketches the evolution of his arguments concerning the roles of institutions, organizations and human agency. North's conception of the economic actor became progressively more sophisticated, by acknowledging the role of ideology and adopting insights from cognitive science. Eventually, he abandoned the proposition that institutions are generally efficient, to propose instead that sub-optimal institutional forms could persist. A few noted criticisms of North's work are also considered here, ranging from those which are arguably off the mark, to others that retain some force. The contributions to this memorial issue are outlined at the end of this introduction.

show abstract

Legal institutionalism: Capitalism and the constitutive role of law

Cited by 146 publications

References 62 publications

Introduction: Business and the Law

Introduction: Business and the Law

When the Law Distinguishes Between the Enterprise and the Corporation: The Case of the New French Law on Corporate Purpose

Introduction to the Douglass C. North memorial issue

Contact Info

Product

Resources

About