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This paper explores the rise of Delaware as a key location for corporate charters and the interplay of class and institutional formation in this process.

June 20, 2026Open Access

Corporate Proxies: Class Organizing, Law, and Corporate Power in Delaware and the United States Until the New Deal

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MSMaya Uma ShenoyUniversity of Chicago

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Examines how class organizing and legal changes shaped corporate power in Delaware, indicating significant implications for corporate governance.

Key Points

This paper explores the rise of Delaware as a key location for corporate charters and the interplay of class and institutional formation in this process.
Examined historical records between 1899 and 1930 to analyze legal and institutional changes in Delaware.
Investigated the role of a coalition of legal and political actors in shaping corporate laws and structures.
Focused on the influence of corporation service companies and the General Corporation Law of Delaware.
Identified the formation of a strategic interest group that transformed Delaware's corporate landscape.
Showed that innovations like corporate personification allowed corporations to distance themselves from direct accountability.
Demonstrated how the charter trust company's legitimation by the state facilitated a stable environment for corporate interests.

Cite This Study

Maya Uma Shenoy (2023) studied this question.

synapsesocial.com/papers/6a363147db0793dc1a5383aa https://doi.org/10.6082/82e10-0ap77

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Implication

Examines how class organizing and legal changes shaped corporate power in Delaware, indicating significant implications for corporate governance.

Corporate Proxies: Class Organizing, Law, and Corporate Power in Delaware and the United States Until the New Deal

Discussion

Member takes

Implication

Key Points

Cite This Study

Corporate Proxies: Class Organizing, Law, and Corporate Power in Delaware and the United States Until the New Deal

Discussion

Member takes

Implication

Key Points

Cite This Study

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