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Sunday, April 30, 2006

Competing social conceptions of the corporation

Because of the striking differences in their styles of corporate governance, I've been following rather closely the news reports on the efforts of Netherlands-registered Mittal to take over Luxembourg-registered Arcelor. Two recent reports, including a long one on Mittal's governance structure:
Peter Marsh, "Arcelor investors expected to take issue with E4bn loan," Financial Times, U.S. edition, 27 April 2006, 21.

John Plender, "Mittal kingdom: why governance may be an impediment in the pursuit of Arcelor," Financial Times, U.S. edition, 28 April 2006, 9.
In a paper that I presented last month at a conference at Washington and Lee University's School of Law, I used the Mittal-Arcelor case briefly to illustrate competing social conceptions of the corporation today -- will post a link to the article manuscript when I'm finished revising it. Meanwhile, I am delighted to hear that historian Philippe Mioche at the Université de Provence, Aix-en-Provence, is writing an article on the history of the two firms.

For news reports on Arcelor's annual shareholder meeting, held on Friday, click here.

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