Endnotes

¹ This paper will not pause to consider the essentiality of accountability by management to ownership, as that subject appears to be well covered in other portions of the program.

² "Creative Tension?" is the title of a collection of essays on issues arising from the relationships between the management of public companies and institutional investors, published by the National Association of Pension Funds in February 1990.

³ Dallas, Lynne L., Two Models of Corporate Governance Beyond Berle and Means, 22 Mich. Journal of Law Reform 19, 95 (1988).

⁴ The institutions include: (i) the private pension system subject to ERISA and the Department of Labor: (ii) investment companies subject to the 1940 Act and the SEC; (iii) bank trusts subject to the Federal Reserve, the FDIC and the Comptroller of the Currency; and (iv) public pension funds, charities and foundations subject to the Internal Revenue Service.

⁵ 8 Northern Illinois Law Review 329, 331 (1988) enumerating 17 states as of that date. To this list we must add at least - Pennsylvania for Armstrong International and Massachusetts for Norton Company.

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