Recommended Citation
Matthew Jennejohn & D. Gordon Smith, Delaware’s Frontier, 24 U. Pa. J. Bus. L. 791 (2022).
Keywords
Delware Courts, U.S. Economy, Corporate Law, Business law, Litigation, Private Ordering, Uncertainty
Document Type
Law Review Article
Abstract
This essay, prepared for a symposium honoring Chief Justice Leo Strine, explores how institutional capacity limits the Delaware courts’ role in the U.S. economy. A decision theoretic approach is employed to delineate the boundaries of that role, with particular attention paid to recent arguments that Delaware's Caremark doctrine should be extended to ESG concerns. The essay views muscular expansion of Caremark to encompass stakeholder interests as misguided without significant investments in institutional capacity.
General Notes
Delaware's Frontier
Publisher
University of Pennyslvania
Publication Title
University of Pennsylvania Journal of Business Law