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From Trust to Contract: The Legal Language of Managerial Ideology, 1920–1980

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  • Kaufman, Allen
  • Zacharias, Lawrence

Abstract

Although the managerial function arises out of organizational needs imposed by market competition and technological development, managers' professional status has come in large part from legal conceptions that perceive the managerially run firm as an institutional bulwark for modern democracy. This article examines how the law, through its doctrines of trust and contract, has made and unmade management as a semi-public profession. The article explores the history of tender-offer regulation as a case study of this process.

Suggested Citation

  • Kaufman, Allen & Zacharias, Lawrence, 1992. "From Trust to Contract: The Legal Language of Managerial Ideology, 1920–1980," Business History Review, Cambridge University Press, vol. 66(3), pages 523-572, October.
  • Handle: RePEc:cup:buhirw:v:66:y:1992:i:03:p:523-572_06
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    Cited by:

    1. Lorenzo Sacconi, 2011. "From individual responsibility to ÔsharedÕ social responsibilities: concepts for a new paradigm," Econometica Working Papers wp27, Econometica.
    2. Allen Kaufman & Ernie Englander, 2011. "Behavioral Economics, Federalism, and the Triumph of Stakeholder Theory," Journal of Business Ethics, Springer, vol. 102(3), pages 421-438, September.
    3. Pierre-Yves Gomez, 2003. "Jalons pour une histoire des théories du gouvernement des entreprises," Revue Finance Contrôle Stratégie, revues.org, vol. 6(4), pages 183-208, December.
    4. Styhre Alexander, 2018. "The Making of the Shareholder Primacy Governance Model: Price Theory, the Law and Economics School, and Corporate Law Retrenchment Advocacy," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 8(3), pages 1-31, December.

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