Shane Goodwin, PhD
@ShaneGoodwin
Finance Professor at @SMUCox | Law Faculty at @SMULawSchool♦ Corporate Director ♦ Expert Witness on Corporate Governance ♦ Former M&A Investment Banker
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𝗧𝗼 𝗗𝗲𝗹𝗮𝘄𝗮𝗿𝗲’𝘀 𝗰𝗿𝗶𝘁𝗶𝗰𝘀: 𝗮 𝗹𝗶𝘁𝘁𝗹𝗲 𝗴𝗿𝗮𝘁𝗶𝘁𝘂𝗱𝗲, 𝗽𝗹𝗲𝗮𝘀𝗲.
𝗪𝗲 𝗼𝘄𝗲 𝘁𝗵𝗲 𝘀𝘁𝗮𝘁𝗲 𝗮 𝗾𝘂𝗮𝗿𝘁𝗲𝗿-𝗯𝗶𝗹𝗹𝗶𝗼𝗻-𝗱𝗼𝗹𝗹𝗮𝗿 𝘁𝗵𝗮𝗻𝗸-𝘆𝗼𝘂. Delaware has done more for shareholder value than it gets credit for. 𝗜𝘁 𝗷𝘂𝘀𝘁 𝗱𝗶𝗱 𝗶𝘁 𝗯𝘆 𝗵𝗼𝗹𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗱𝗼𝗼𝗿.
Across 60 completed departures since June 2024, our model puts the present value of future franchise-tax savings at approximately $252 million, after tax and the modeled Nevada fees.
Delaware made that calculation possible. It supplied the expense.
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SMU Corporate Governance Initiative:
@ShaneGoodwin @SMUCox @SMULawSchool
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Texas or Nevada? Index funds backed 91% of the shares they voted on Texas reincorporations — and 21% on Nevada moves. Every fund vote on 46 reincorporation proposals (2024–2026), from SEC filings. Full deck: #DExit# #CorporateGovernance#
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