The Embedded Firm

Cynthia Williams is Professor of Law at the University of Illinois College of Law. From 2007 to 2009, she held the inaugural Osler Chair in Business Law at Osgoode Hall Law School, York University, Toronto. Professor Williams is a founder and coordinator of the Network for Sustainable Financial Markets, a global collaboration between academics and market participants. Peer Zumbansen holds the Canada Research Chair in Transnational Economic Governance and Legal Theory at Osgoode Hall Law School, York University, Toronto. Professor Zumbansen is the founder and Director of the Critical Research Laboratory in Law and Society and co-founder and Co-editor-in-Chief of the CLPE Research Paper Series (with John Cioffi).

• List of figures; List of tables; 1. Introduction: corporate governance after the 'end of history': investigating the new 'Great Transformation' Cynthia Williams and Peer Zumbansen; Part I. Historical Trajectories of Business and Regulation: 2. Corporate governance and financial crisis in the long run Simon Deakin; 3. Financialism: a (very) brief history Lawrence E. Mitchell; 4. Legitimating power: the changing status of the board of directors Dalia Tsuk Mitchell; 5. Engaging corporate boards: the limits of liability rules in modern corporate governance William T. Allen; 6. The primacy of Delaware and the embeddedness of the firm Fenner Stewart; 7. The new embeddedness of the corporation: corporate social responsibility in the knowledge society Peer Zumbansen; Part II. New Interests, New Shareholder Constellations, New Landscapes: 8. Beyond the Berle and Means paradigm: private equity and the new capitalist order Stephen F. Diamond; 9. Pension funds as owners and as financial intermediaries: a review of recent Canadian experience Simon Archer; 10. Credit derivatives market design: creating fairness and sustainability Janis Sarra; 11. The EU Takeovers Directive: a shareholder or stakeholder model? Blanaid Clarke; 12. 'Law and finance': inaccurate, incomplete and important Ruth V. Aguilera and Cynthia A. Williams; Part III. Labor's Evolution in the Economy: 13. Labor and finance in the United States Sanford M. Jacoby; 14. The conflicting logic of markets and the management of production Suzanne Konzelmann and Frank Wilkinson; 15. Organising workers globally - the need for public policy to regulate investment John Evans; 16. From governance to political economy: insights from a study of relations between corporations and workers Harry W. Arthurs and Claire Mummé; Part IV. The Transnational Embedded Firm and the Financial Crisis: 17. The intellectual foundations of the global financial crisis: analysis and proposals for reform Frank Jan De Graaf and Cynthia A. Williams; 18. Why executive pay matters to innovation and inequality William Lazonick; 19. Products, perimeters and politics: systemic risk and securities regulation Mary Condon; 20. Modernizing pension fund legal standards for the twenty-first century Keith Johnson and Frank Jan De Graaf; Part V. Conclusion: 21. Conclusion: evaluation, policy proposals and research agenda Cynthia A. Williams and Peer Zumbansen; Index.

Review of the hardback: 'This collection of essays by leading international scholars offers fresh perspectives on the impact of the global transformation of operating conditions on the change in the relationship between companies and employees, and the pressures on corporations to adopt new strategies and governance practices. This book should be of great interest to lawmakers, practitioners and scholars seeking to understand the dynamics of business and financial regulation in Europe and the US.' Joseph McCahery, Tilburg University Law School