{"id":3760,"date":"2023-10-31T15:28:01","date_gmt":"2023-10-31T19:28:01","guid":{"rendered":"https:\/\/www2.law.temple.edu\/10q\/?p=3760"},"modified":"2023-10-31T15:28:01","modified_gmt":"2023-10-31T19:28:01","slug":"fall-2023-friel-scanlan-lecture-a-new-corporate-overstory","status":"publish","type":"post","link":"https:\/\/law.temple.edu\/10q\/fall-2023-friel-scanlan-lecture-a-new-corporate-overstory\/","title":{"rendered":"Fall 2023 Friel-Scanlan Lecture: A New Corporate Overstory"},"content":{"rendered":"

October 31, 2023<\/p>\n

The Friel-Scanlan lecture was established in 1989 in memory of Francis S. Friel and Sara G. Scanlan Friel by Francis A. Scanlan (LAW \u201950). The award is given to a Temple Law professor for outstanding faculty scholarship, who then delivers a lecture to the law school community. Tom C.W. Lin, Jack E. Feinberg Chair in Litigation and Professor of Law was awarded the honor and delivered a lecture entitled, \u201cA New Corporate Overstory\u201d to the Temple Law School community.<\/p>\n

Professor Lin is the bestselling author of the award-winning book, The Capitalist and the Activist<\/em><\/a>. His research focus is on corporate governance, business organizations, securities law, and financial technology. He has been featured in periodicals such as The Wall Street Journal<\/em>, Bloomberg News<\/em>, Fortune<\/em>, and The Financial Times<\/em>. He is the winner of the Temple University-wide Lindback Award for Distinguished Teaching and Temple Law School\u2019s George P. Williams Memorial Award for Outstanding Professor of the Year (two times).<\/p>\n

When asked about being honored for his scholarship with the award, Lin replied \u201cI feel very fortunate to receive this award because so many of my colleagues are doing impactful and interesting research. They are just as deserving, if not more deserving of this honor.\u201d<\/p>\n

Professor Lin\u2019s thought-provoking and hopeful lecture challenged the conventional view of corporations. He asserted that the old depiction of corporations as solely amoral, apolitical, profit-driven engines is outdated. In his lecture, he outlined his view for a more honest and complicated view of corporations and corporate law.<\/p>\n

Setting the stage, Professor Lin contextualized his perspective in today\u2019s dynamic corporate political landscape. He asserted that this new landscape is being shaped by larger forces like corporate social activism, the rise of ESG investing, the growth in retail investing, and shifts in traditional political alignments.<\/p>\n

Professor Lin then proposed a \u201cnew corporate overstory,\u201d elucidating the role of corporations in American society. He drew on the metaphor of a forest\u2019s canopy or a story\u2019s overarching narrative in literature.<\/p>\n

He argued that the new corporate overstory is rooted in three major themes. First, the new overstory recognized that corporations are political entities, that consistently make business decisions with political implications and intentions. Furthermore, corporations have long been overtly political entities, lobbying to push for favorable laws and regulations.<\/p>\n

Secondly, corporations are profit-driven entities. This remains their key objective, and they have multiple means to generate profit, including ways that benefit society and non-shareholder stakeholders.<\/p>\n

Lastly, Lin\u2019s new corporate overstory argued that corporations are human-centered. Corporations are not just rational engines for profit devoid of any humanity. Humans are the heart of a corporation\u2019s operations, management, and business. Putting humans back at the center of corporations helps us rethink business law and policy in ways that are more reflective of reality.<\/p>\n

Ultimately, Professor Lin highlighted how politics, profit, and progress collectively shape modern American business, law, and society. And this new corporate overstory helps us think anew about ways to address the big challenges confronting society through the private means of business as well as the public means of government.<\/p>\n

Professor Tom C.W. Lin\u2019s book, The Capitalist and the Activist<\/em>, is available here<\/a>.<\/p>\n

 <\/strong><\/p>\n

Landon Farnsworth (LAW \u201924) is a Production Editor for the Temple 10-Q.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

October 31, 2023
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