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- W2891490434 abstract "Growing attention is being paid to the benefits of considering the long-term interests of multiple constituencies in corporate governance. A theory of the corporation where fiduciary duties of directors point to the legal entity and not to its shareholders goes beyond a pure prioritization of shareholders’ interests. However, the notion that board members mediate the interests of all constituencies fails to account for a ‘positive’ conception of corporate purpose and underlying asymmetries in allocations of rights between stakeholders. Addressing corporate governance as a fundamentally ‘open’ model for organizational structuring, we engage with a variety of legal mechanisms that can be used to implement and protect a positive purpose for the modern corporation and to protect the conditions of credible commitment to manage the company for the interest of corporate constituencies, to commit the corporation to a social or environmental purpose and to take into account multiple time-horizons." @default.
- W2891490434 created "2018-09-27" @default.
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- W2891490434 date "2018-07-19" @default.
- W2891490434 modified "2023-09-23" @default.
- W2891490434 title "Protecting Long-term Commitment" @default.
- W2891490434 doi "https://doi.org/10.1093/oso/9780198805274.003.0003" @default.
- W2891490434 hasPublicationYear "2018" @default.
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