Economic Efficiencyo on Limited Liability Companies: some Considerations on Economic Analysis of Law

• Main Author: Martinho Martins Botelho
• Format: Article
• Language: Portuguese
• Published: Conselho Nacional de Pesquisa e Pós-graduação em Direito (CONPEDI) 2016-12-01
• Series: Revista Brasileira de Direito Empresarial
• Subjects: Eficiência econômica; Teoria da agência; Modelo administrador-investidor; Teoria pro-rata; Responsabilidade limitada
• Online Access: http://www.indexlaw.org/index.php/direitoempresarial/article/view/1288

This paper presents briefly a theoretical approach about limited efficiency from the perspective Economic Analysis of Law (EAL) of the limited liability company by examining initially the question of limited liability, under the scrutiny of the pro-rata theory and model manager-investor.  It approaches the liability of directors of corporations incorporated in the form of a limited company. Subsequently, its theoretical approaches are about the analysis of the first generation of agency theory (contract manager-investor incentives), the hypothesis of Modigliani-Miller irrelevance, and structures of great property.