Corporate Law and the Theory of the Firm:

Reconstructing Corporations, Shareholders, Directors, Owners, and Investors (The Economics of Legal Relationships)

James A. DiGabriele, PhD/DPS, CPA/ABV/CFF

In Corporate Law and the Theory of the Firm, author Wm. Dennis Huber, an attorney and CPA with graduate degrees in economics and finance, challenges decades of judicial opinions, as well as accounting, economic, and legal research by providing persuasive, well-supported arguments that there is no separation of ownership and control of corporations, because shareholders do not own corporations. He further argues that directors are neither the agents nor trustees of shareholders. While not the first to make such arguments, the author uses corporate statutory law and principles of contract law, property law, agency law, and trust law to support his arguments.