Margaret Blair

Margaret Blair is an economist who focuses on corporate law and finance. She is a Professor of Law (Emerita) and the Milton R. Underwood Chair in Free Enterprise (Emerita) at Vanderbilt University. Her current research focuses on five areas: team production and the role of corporate boards of directors, the legal concept of "personhood," the historical treatment of corporations by the Supreme Court, the role of private-sector governance arrangements in contract enforcement, and the problem of excessive leverage in financial markets.

Two Years After the Business Roundtable Statement: Pointing in the Right Direction

The 2019 Business Roundtable statement was a welcome break from the position that the nation’s top corporate CEOs took in 1997, when the BRT pledged...

Corporations Are Governance Mechanisms, Not Shareholder Toys

Milton Friedman’s shareholder credo is simple and catchy but has shaky foundations. Corporate directors and officers are not agents of shareholders and have no...

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