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- Publisher Website: 10.1017/als.2017.10
- Scopus: eid_2-s2.0-85032581613
- WOS: WOS:000412529800005
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Article: An Economic Efficiency Approach to Reforming Corporate Governance: the Case of Multiple Stakeholder Board
Title | An Economic Efficiency Approach to Reforming Corporate Governance: the Case of Multiple Stakeholder Board |
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Authors | |
Keywords | allocative efficiency economic principles free market stakeholder board stakeholder interests |
Issue Date | 2017 |
Publisher | Cambridge University Press. The Journal's web site is located at http://journals.cambridge.org/ALS |
Citation | Asian Journal of Law and Society, 2017, v. 4, p. 387-404 How to Cite? |
Abstract | This paper points out the problems of the current law on directors’ duties that forces directors to ignore stakeholder interests, with the unintended consequences of misallocation of resources and the weaknesses of a traditional legal approach to law reform, and uses multiple stakeholder boards as an example to demonstrate how an economic efficiency approach to law reform, adopting economic principles, could avoid some of the unintended consequences of a legal approach to law reform and help design better rules that promote allocative efficiency for the benefit of society as a whole. It argues that international organizations should take the lead in promoting the use of stakeholder directors in the board of directors of multinational corporations that have a history of corporate abuses for corporate decisions that have an impact on all stakeholders. |
Persistent Identifier | http://hdl.handle.net/10722/247467 |
ISSN | 2023 Impact Factor: 0.6 2023 SCImago Journal Rankings: 0.297 |
ISI Accession Number ID | |
Grants |
DC Field | Value | Language |
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dc.contributor.author | Goo, SH | - |
dc.date.accessioned | 2017-10-18T08:27:43Z | - |
dc.date.available | 2017-10-18T08:27:43Z | - |
dc.date.issued | 2017 | - |
dc.identifier.citation | Asian Journal of Law and Society, 2017, v. 4, p. 387-404 | - |
dc.identifier.issn | 2052-9015 | - |
dc.identifier.uri | http://hdl.handle.net/10722/247467 | - |
dc.description.abstract | This paper points out the problems of the current law on directors’ duties that forces directors to ignore stakeholder interests, with the unintended consequences of misallocation of resources and the weaknesses of a traditional legal approach to law reform, and uses multiple stakeholder boards as an example to demonstrate how an economic efficiency approach to law reform, adopting economic principles, could avoid some of the unintended consequences of a legal approach to law reform and help design better rules that promote allocative efficiency for the benefit of society as a whole. It argues that international organizations should take the lead in promoting the use of stakeholder directors in the board of directors of multinational corporations that have a history of corporate abuses for corporate decisions that have an impact on all stakeholders. | - |
dc.language | eng | - |
dc.publisher | Cambridge University Press. The Journal's web site is located at http://journals.cambridge.org/ALS | - |
dc.relation.ispartof | Asian Journal of Law and Society | - |
dc.rights | Asian Journal of Law and Society. Copyright © Cambridge University Press. | - |
dc.rights | This article has been published in a revised form in [Journal] [http://doi.org/XXX]. This version is free to view and download for private research and study only. Not for re-distribution, re-sale or use in derivative works. © copyright holder. | - |
dc.subject | allocative efficiency | - |
dc.subject | economic principles | - |
dc.subject | free market | - |
dc.subject | stakeholder board | - |
dc.subject | stakeholder interests | - |
dc.title | An Economic Efficiency Approach to Reforming Corporate Governance: the Case of Multiple Stakeholder Board | - |
dc.type | Article | - |
dc.identifier.email | Goo, SH: shgoo@hku.hk | - |
dc.identifier.authority | Goo, SH=rp01248 | - |
dc.identifier.doi | 10.1017/als.2017.10 | - |
dc.identifier.scopus | eid_2-s2.0-85032581613 | - |
dc.identifier.hkuros | 282458 | - |
dc.identifier.volume | 4 | - |
dc.identifier.spage | 387 | - |
dc.identifier.epage | 404 | - |
dc.identifier.isi | WOS:000412529800005 | - |
dc.publisher.place | United Kingdom | - |
dc.relation.project | Enhancing Hong Kong's Future as a Leading International Financial Centre | - |
dc.identifier.issnl | 2052-9015 | - |