News

Justice Thomas Teaches Seminar on Religious Freedom

Associate Justice Clarence Thomas

Associate Justice Clarence Thomas of the United States Supreme Court visited Notre Dame Law School the week of February 3, 2014, serving as the James J. Clynes Visiting Chair in Judicial Ethics. Over the course of the week, Justice Thomas co-taught with Professor Richard W. Garnett an intensive seminar on “Religious Freedom and the Establishment Clause.”

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K.J. Martijn Cremers--Thirty Years of Shareholder Rights and Firm Valuation

Professor Martijn Cremers has co-authored a new research article, Thirty Years of Shareholder Rights and Firm Valuation, that introduces the concept of a new hand-collected dataset that tracked restrictions on shareholder rights at approximately 1,000 firms from 1978-1989. In conjunction with 1990-2006 IRRC data, the authors tracked firms’ shareholder rights over thirty years. Most governance changes occurred during the 1980s. The data found a robustly negative association between restrictions on shareholder rights (using the G-Index as a proxy) and Tobin’s Q. The negative association only appears after the judicial approval of antitakeover defenses in the 1985 landmark Delaware Supreme Court decision of Moran v. Household. This decision was an unanticipated, exogenous shock that increased the importance of shareholder rights.

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In memoriam: William O. 'Captain' McLean, associate dean emeritus of the Notre Dame Law School

William O. "Captain" McLean

William O. McLean, associate dean emeritus of the University of the Notre Dame Law School, died Nov. 19 (Tuesday). He was 91.

A native of Greenville, Ill., McLean was a 1957 graduate in school administration from the University of New Mexico and held master degrees in international affairs and education from George Washington University and Notre Dame, respectively. He also was a graduate of the U.S. Naval War College.

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