Acheson Graeme G.; R, Hickson Charles; D, Turner John - In: Review of Law & Economics 6 (2010) 2, pp. 247-273
The superiority of the corporation over other organizational forms is typically attributed to the fact that every owner has limited liability. The widely-held, but empirically unsubstantiated, view is that the main advantage of limited liability over extended shareholder liability is that the...