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Tuesday, January 26, 2021
A just-published article by University of Texas Professor Jens C. Dammann takes an empirical look at public company relocation choices.  State Competition for Corporate Headquarters and Corporate Law: An Empirical Anaylsis, 80 Md. L. Rev. 214 (2021).   As an initial matter, Professor Dammann finds that it is by no means uncommon for publicly traded companies to relocate their corporate headquarters.  He finds that between 1994 and 2018, about nine percent of all public companies moved their headquarters at least once. 
The picture for California is decidedly mixed.  In 2018, California ranked #1 in terms of the absolute number of public company headquarters located in the state, providing a home to 675 companies.  The bad news is that this represents a nearly 35% decline from the number of corporate headquarters in 1995 when the Golden State hosted 1,031 corporate headquarters.  To make matters worse, California ranked 30 ....

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