Article by law professor is among the top 10 in the US in 2014

The article The Evolution of Shareholder Voting Rights: Separation of Ownership and Consumption, written by Mariana Pargendler, a professor at São Paulo Law School, in partnership with Henry Hansmann, a professor at Yale Law School, was recognized as one of the top 10 articles of the corporate law and capital market fields in the United States in 2014. The list is organized annually by Robert B. Thompson, a professor at Georgetown University, and reflects the choice of professors of the corporate law and capital markets fields from over 560 indexed articles in legal publications last year. It is the first time a Latin American author achieves this recognition in over 20 years of the list´s existence. The article analyzes the evolution of the voting rights of corporate shareholders over time. According to the authors, in the nineteenth century, the articles of incorporation of companies usually imposed a maximum limit to the number of votes per shareholder, while today the ideal of one share, one vote prevails. Pargendler and Hansmann demonstrate that, in that historical period, many companies were essentially cooperative societies. They also emphasize that, while much of the literature on the subject focuses on the emergence of a separation between ownership and control, the separation between ownership and consumption is another milestone, but until then ignored in the history of corporations. The result will be published in the next edition of the Corporate Practice Commentator. The article was originally published in the Yale Law Journal and can be accessed here.
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