Jon Macey on Corporate Governance (Part 1)

Jon Macey, Deputy Dean and Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law at Yale, has recently published a book titled Corporate Governance, Promises Kept, Promises Broken.  The book is, as expected, thorough, thoughtful, and provocative.  It contains a number of conclusions that fully support the positions typically taken on this Blog, as well as a number that do not.  We will take a couple of days to examine the text and highlight the portions that raise some of the most interesting issues.