Corporate laws are based on the idea that the interests of shareholders should be the primary concern of company directors. However, some argue that the proper role for shareholders is to sit back and let the corporation's managers do their job, or that the pursuit of shareholders' interests detracts from the concerns of employees or victims of corporate wrongdoing or other stakeholders. Stephen Bottomley argues that instead of consigning shareholders to this passive role, they should be given opportunities to be active members of corporations. Corporations are constitutional arrangements rather than mere contractual agreements. They are decision-making organizations in which questions of process and structure are important. Thus, instead of using economic criteria such as efficiency as the sole measure for deciding what constitutes 'good' corporate governance, this book examines whether ideas of accountability, deliberation and contestability provide a valuable framework for assessing corporate structures and process and for encouraging greater shareholder participation.

Corporate Accountability in the Context of Transitional Justice explores how corporations can be held accountable for their role in past human rights violations when a country is making a transition from conflict or repression to peace and democracy. It breaks new ground in theorizing the linkages between the areas of transitional justice and corporate accountability and analyzing problems frequently arising where the two fields meet in practice, for example where the role of corporations in past human rights violations is examined by truth and reconciliation commissions or in the course of litigation. The book provides an overview of the current trends in law and in legal and political discussion relating to both areas, as well as in-depth analysis of how tools of corporate accountability and transitional justice can complement each other in order to achieve the best outcomes for bringing justice to victims and lasting peace to societies. The authors bring extensive experience from diverse professional backgrounds and jurisdictions to provide the first sustained attempt to address this link. The book will be of interest to scholars, practitioners, policymakers and activists working in the areas of transitional justice; corporate accountability; and business and human rights.

This important and timely new book examines the manner and extent of involvement by institutions in monitoring the performance of the executive management of "companies". Such monitoring of managerial performance fits within a broad framework of devices and market forces which operate to reduce the divergence between the interests of managers and shareholders in non-controlled "companies". Institutional intervention to change the management of companies has been confined to the most extreme cases of under-performance, sometimes combined with strong suspicion of misconduct on the part of the impugned managements. Apart from examining the situations in which institutional intervention is likely to take place and how it can be effected, this book also looks in considerable detail at the advantages and disadvantages of greater involvement by institutions. The whole work benefits from detailed comparative analysis of the position in Australia and the UK.

In a global economy, multinational companies often operate in jurisdictions where governments are either unable or unwilling to uphold even the basic human rights of their citizens. The expectation that companies respect human rights in their own operations and in their business relationships is now a business reality that corporations need to respond to. Business and Human Rights: From Principles to Practice is the first comprehensive and interdisciplinary textbook that addresses these issues. It examines the regulatory framework that grounds the business and human rights debate and highlights the business and legal challenges faced by companies and stakeholders in improving respect for human rights, exploring such topics as: the regulatory framework that grounds the business and human rights debate challenges faced by companies and stakeholders in improving human rights industry-specific human rights standards current mechanisms to hold corporations to account future challenges for business and human rights With supporting case studies throughout, this text provides an overview of current themes in the field and guidance on practical implementation, demonstrating that a thorough understanding of the human rights challenges faced by business is now vital in any business context.

An ideal introductory textbook, Bourne on Company Law offers a succinct overview of the fundamental areas covered in LLB and GDL courses. The text is clear and easy to follow, being presented in short, sub-headed sections for ease of navigation, and is thoroughly cross-referenced to highlight connections across topics. Written for both law and non-law students, this text offers straightforward explanations of all key cases, as well as chapter summaries and end of chapter questions to aid understanding. The book is also supported by a companion website offering self-test questions, a useful glossary and annotated web links.

Directors are key decision-makers in any organisation, whether it is in the public sector, a family business or a transnational company. The UK Companies Act 2006 codified directors' duties for the first time and describes the director as the 'most likely to promote the success of the company for the benefit of its members as a whole'. This book addresses key tensions and problems involved in the duties and responsibilities of the director in promoting success, including corporate culture and credibility, trust, risk and uncertainty, collective responsibility, and the degree of control. The book considers directors' decision-making in both private and public sector organisations and explicitly examines aspects of decision-making during periods of financial distress. The book compares the legal contexts of director's decisions in the UK to those of the USA, Germany and Australia, and takes an interdisciplinary approach in its combination of management theory, economic theory and behavioural studies. In doing so the book addresses issues key to the understanding of corporate governance in light of recent financial crises.

This book is a comparative law study exploring the piercing of the corporate veil in Latin America within the context of the Anglo-American method. The piercing of the corporate veil is a remedy applied, in exceptional circumstances, to prevent and punish an inappropriate use of the corporate personality. The application of this remedy and the issues it involves has been widely researched in Anglo-American jurisdictions and, until recently, little attention has been given to this subject in Latin America. This region has been through internal political conflicts that undermined economic development. However, rise of democratic governments has created the political stability necessary for investment and economic development meaning that the corporate personality is now more commonly used in Latin America. Consequently, corporate personality issues have become a subject of study in this region. Drawing on case studies from Mexico, Colombia, Brazil and Argentina, Piercing the Corporate Veil in Latin American Jurisprudence examines the ingenuity of Latin American jurisdictions to deal with corporate personality issues and compares this method with the Anglo-American framework. Focusing in particular on the influence of two key factors- legal tradition and the uniqueness of each legal system- the author highlights both similarities and differences in the way in which the piercing of the corporate veil is applied in Latin American and Anglo-American jurisdictions. This book will be of great interest to scholars of company and comparative law, and business studies in general.

The standard approach to the legal foundations of corporate governance is based on the view that corporate law promotes separation of ownership and control by protecting non-controlling shareholders from expropriation. This book takes a broader perspective by showing that investor protection is a necessary, but not sufficient, legal condition for the efficient separation of ownership and control. Supporting the control powers of managers or controlling shareholders is as important as protecting investors from the abuse of these powers. Rethinking Corporate Governance reappraises the existing framework for the economic analysis of corporate law based on three categories of private benefits of control. Some of these benefits are not necessarily bad for corporate governance. The areas of law mainly affecting private benefits of control - including the distribution of corporate powers, self-dealing, and takeover regulation - are analyzed in five jurisdictions, namely the US, the UK, Italy, Sweden, and the Netherlands. Not only does this approach to corporate law explain separation of ownership and control better than just investor protection; it also suggests that the law can improve the efficiency of corporate governance by allowing non-controlling shareholders to be less powerful.

Now in its third edition, Commonwealth Caribbean Business Law continues to break away from the traditional English approach of treating business law primarily as the law of contract and agency. Taking a panoramic view, it explores the foundation of various legal systems before examining areas of legal liability that affect business activities. These include areas such as contract law, tort law, criminal law, agency and internet law which present significant challenges confronting the business sector. The book primarily targets the development of business law principles in several Caribbean Commonwealth jurisdictions but, where appropriate, also embraces the jurisprudence of other Commonwealth nations, such as the United Kingdom, Canada and Australia. It also explores the United States as a non-Commonwealth jurisdiction, given the increasing importance in the Caribbean of judicial pronouncements relating to internet law from this territory. Using excerpts from key judgments, the book allows students, particularly those with a non-legal background, to understand key legal principles for business as presented by the judiciary and draws parallels between legal theory and business practice.

Corporate governance initiatives have been developing at a rapid pace in the Commonwealth Caribbean through legislation, case law and codes. Commonwealth Caribbean Corporate Governance offers an overview of current practice and legal developments in corporate governance, highlighting the interpretation of the legislation through case law and the codes of corporate governance which have now been implemented. It also considers the challenges which emerging markets face in an attempt to adopt the corporate governance initiatives of developed markets. This text explores the emergence and development of corporate governance in the region from a range of angles, including the protection and empowerment of shareholders, the impact on government agencies, and the role and responsibilities of directors and officers in companies and in government agencies. Written by a panel of academics, legal practitioners and experts working in business, this book will be an invaluable resource for judges, lawyers, corporate executives and students of business, corporate law and corporate management.

Now in its third edition, Commonwealth Caribbean Business Law continues to break away from the traditional English approach of treating business law primarily as the law of contract and agency. Taking a panoramic view, it explores the foundation of various legal systems before examining areas of legal liability that affect business activities. These include areas such as contract law, tort law, criminal law, agency and internet law which present significant challenges confronting the business sector. The book primarily targets the development of business law principles in several Caribbean Commonwealth jurisdictions but, where appropriate, also embraces the jurisprudence of other Commonwealth nations, such as the United Kingdom, Canada and Australia. It also explores the United States as a non-Commonwealth jurisdiction, given the increasing importance in the Caribbean of judicial pronouncements relating to internet law from this territory. Using excerpts from key judgments, the book allows students, particularly those with a non-legal background, to understand key legal principles for business as presented by the judiciary and draws parallels between legal theory and business practice.

Rising defaults in the financial market in 2007, the current widespread economic recession and debt crisis have added impetus to existing doubts about companies' governance, and cast new light on future trends in shareholder-oriented corporate practice. Taking account of these developments in the field and realising the current need for changes in governance, this book offers a thorough exploration of the origins, recent changes and future development of the corporate objective-shareholder primacy. Legal and theoretical aspects are examined so as to provide a comprehensive and critical account of the practices reflecting shareholder primacy in the UK. In the wake of the financial crisis, this book investigates the direction of future policy, with particular attention to changes in governing rules and regulations and their implications for preserving the objective of shareholder primacy. It examines current UK and EU reform proposals calling for long-term and socially-responsible corporate performance, and the potential friction between proposed legal changes and commercial practices. This book will be useful to researchers and students of company law, and business and management studies.

Corporate governance initiatives have been developing at a rapid pace in the Commonwealth Caribbean through legislation, case law and codes. Commonwealth Caribbean Corporate Governance offers an overview of current practice and legal developments in corporate governance, highlighting the interpretation of the legislation through case law and the codes of corporate governance which have now been implemented. It also considers the challenges which emerging markets face in an attempt to adopt the corporate governance initiatives of developed markets. This text explores the emergence and development of corporate governance in the region from a range of angles, including the protection and empowerment of shareholders, the impact on government agencies, and the role and responsibilities of directors and officers in companies and in government agencies. Written by a panel of academics, legal practitioners and experts working in business, this book will be an invaluable resource for judges, lawyers, corporate executives and students of business, corporate law and corporate management.

Accountants play an increasingly important and diverse role in society today. Traditionally, in the UK, accountants are the first port of call for businessmen seeking any form of professional advice or assistance. They undertake a wide range of functions which stretch far beyond their traditional roles of preparing accounts, financial reporting, auditing, and tax planning. Today, accountants also offer management consultancy, give corporate finance advice, provide company secretarial services, undertake financial management, give personal finance advice, advise on computer software, and act as trustees in bankruptcy, liquidators, administrative receivers, and administrators. This major work provides UK legal practitioners and accountants with clear and practical guidance from non-contentious but vital governance issues, to the complex issues pertaining to professional negligence. The book's 6 checklists and 32 precedents guide the reader through the key topics: partnership creation, cl

Corporate Social Responsibility (CSR) has increasingly been promoted as an important mechanism for furthering economic and social development goals in developing countries. In such an optimistic climate, questions arise as to whether CSR can bear the weight of the increasing expectations being heaped on its shoulders. This book examines the changing nature of corporate social responsibility as it has been conceived over the past eighty years. It considers the historical and socio-legal developments of the idea of CSR and the various conceptions of the corporation which underlie different realisations of CSR. The book explores the model of CSR deployed in the developing world as well as the links between CSR and development. Renginee Pillay uses Mauritius as a case-study, demonstrating how CSR and corporate governance issues have come to the fore of political, financial and legal landscapes. Drawing on empirical research, the book examines how the first legislation of its kind has been implemented in Mauritius, and analyses its impact on development. In its work to evaluate the contribution CSR can make to development, this book will be of great use and interest to students and researchers of business and company law, business ethics, and development studies.

Within corporate governance the accountability of the board of directors is identified as a major issue by governments, international bodies, professional associations and academic literature. Boards are given significant power in companies, and as a consequence it is argued that they should be accountable for their actions. Drawing on political science, public administration, accounting, and ethics literature, this book examines the concept of accountability and its meaning in the corporate governance context. It examines the rationale for making boards accountable, and outlines the obstacles and drawbacks involved in providing for accountability. The book goes on to examine how current mechanisms for ensuring accountability are assessed in terms of fairness, justice, transparency, practicality, effectiveness and efficiency, before discussing the ways that accountability might be improved. Andrew Keay argues that enhanced accountability can provide better corporate governance, helping to reduce the frequency and severity of financial crises, and improve confidence in company practice. As an in depth study of a key element within the exercise of authority and management in corporate entities, this book will be of great use and interest to researchers and students of corporate governance, business and management, and corporate social responsibility.

Business law is a vast, challenging and often complex subject incorporating legal jurisdictions including company law; contract law; the English legal system and its interaction with the European Union; employment relations; and tortious liability. The very nature of having to quickly understand these jurisdictions, at least to a standard to pass assessments let alone applying these in business scenarios, can prove daunting to any student.

It is essential that students view these separate areas of law as interrelated and understand how they may affect each of the trading structures in which a business operates. "Beginning Business Law" provides an introduction to the relevant laws in a straight-forward, no-nonsense way. It presents the main areas of law, setting them out with clarity and identifying the salient points that may then be applied in a business context. This enables the relevance of the law to future business-related careers to be highlighted and reinforced.

Features to aid learning and understanding are used throughout. The textbook incorporates various pedagogic features such as diagrams, flow-charts, and on the spot questions to facilitate learning.

The relationship between environmentally sustainable development and company law and related areas of business law and policy has emerged in recent years as a matter of major concern for many scholars, policy-makers, businesses and nongovernmental organisations. This book combines a conceptual analysis of the principles of sustainable development and environmental integration in the EU legal system with a particular focus on Article 11 TFEU and its impact on business in the EU. Article 11 TFEU states that European Union policies and activities must integrate environmental protection requirements with an emphasis on promoting sustainable development and the book investigates the role played by Article 11 TFEU in specific areas of EU law affecting European businesses.

The book gives an overview of the role played by the environmental integration principle in EU law, both at the level of European legislation and at the level of Member State practice. It explores a number of issues related to the role played by Article 11 TFEU in the EU legal system, including its history, its function in the Treaties and its significance for EU institutions and Member States. Contributors to the volume identify and analyse the main legal issues related to the importance of Article 11 TFEU in various policy areas of EU law affecting European businesses, such as company law, insurance and state aid. In drawing together these strands the book sets out what the requirement of environmental integration means for the regulation of business in the EU.

Recent cases of corporate failures, including the fixing of LIBOR rates and money laundering issues in the banking industry, highlight how behavioural issues on the part of company directors are significant contributory factors in corporate governance and the success or failure of companies. This book examines how personality and behavioural issues have contributed to major corporate failures, and how this risk may be managed. The book examines behavioural risks in corporate governance, and evaluates the extent to which risk management mechanisms have acknowledged various aspects of behaviour. Drawing from cases in the UK, the US and Australia and research in psychology and the behavioural sciences, Ngozi Vivian Okoye argues that current corporate governance mechanisms lack provision for identifying and managing personality risks, and suggests how constituent elements of behaviour should be engaged with when developing preventive mechanisms for corporate failures. Okoye presents a conceptual framework for identifying and managing personality risks, and explores how personality risk may be built into corporate governance regulation. The book will be of great use and interest to researchers and practitioners in business and company law, corporate governance, and critical management studies.

Today, business and human rights has emerged as a distinct field within the broader corporate responsibility movement. The endorsement by the United Nations Human Rights Council of a new set of Guiding Principles for Business and Human Rights in 2011 has been welcomed as the leading global standard for corporations to respect human rights. The Guiding Principles are the culmination of a six year UN commissioned study by Harvard University's Professor John Ruggie, which concludes that companies should carry out human rights due diligence to identify, prevent, mitigate and account for how they address their adverse human rights impacts. The Guiding Principles reinforce the state duty to protect against human rights abuses by third parties, including business; the corporate responsibility to respect human rights; and greater access by victims to effective remedy, both judicial and non-judicial. This book draws on the UN Guiding Principles to provide an overview of developments within the ASEAN region in relation to business and human rights.Bridging theory and practice, chapter authors will discuss the implications of key case-studies undertaken across the region, with a particular focus on extractive industries, migration and infrastructure projects. Topics covered include: due diligence and the role of audits; the role CSR can play in achieving sustainable socio economic development; businesses' responsibilities to migrant workers; and the prevention of human rights abuses in states with weak levels of governance. The book aims to shed light on how ASEAN States currently understand and approach business and human rights challenges, and how the role played by ASEAN States may be strengthened and expanded. In doing so it clearly identifies the key themes, opportunities and challenges that lie ahead for the region in relation to business and human rights.

Business law is a vast, challenging and often complex subject incorporating legal jurisdictions including company law; contract law; the English legal system and its interaction with the European Union; employment relations; and tortious liability. The very nature of having to quickly understand these jurisdictions, at least to a standard to pass assessments let alone applying these in business scenarios, can prove daunting to any student.

It is essential that students view these separate areas of law as interrelated and understand how they may affect each of the trading structures in which a business operates. "Beginning Business Law" provides an introduction to the relevant laws in a straight-forward, no-nonsense way. It presents the main areas of law, setting them out with clarity and identifying the salient points that may then be applied in a business context. This enables the relevance of the law to future business-related careers to be highlighted and reinforced.

Features to aid learning and understanding are used throughout. The textbook incorporates various pedagogic features such as diagrams, flow-charts, and on the spot questions to facilitate learning.

Corporate crime in China has garnered worldwide attention and in the recent years we have witnessed positive legislative and administrative efforts by the Chinese government to prevent corporate misconducts.

This book first defines the meaning of corporate crime in China and answers the basic questions of what corporate crime is through real life cases. Then, it introduces the history of corporate crime and reviews academic studies through these key questions. The book also discusses the scope of corporate crime, the basis of corporate criminal liability, the criminal liability of State organizations, the corporate compliance programs and corporate criminal liability and the procedural issues. The book also provides suggestions from a comparative perspective by referring to the latest global developments on corporate crime. In the concluding chapter, the book discusses the goals of corporate crime prevention policy and comes up with feasible reform proposals with a brief summary on the existing problems of the current policies through a macro perspective.

There is no existing book that deals with the legislation and criminal justice practices of corporate crime in China and this book will help to shed insight into the subject.

The enlightened shareholder value principle (ESV) was formulated during the comprehensive review of UK company law by the Company Law Steering Group in the late 1990s and early 2000's and requires directors of companies to act in the collective best interests of shareholders. The principle was taken up by the then UK Government and is now embedded in the Companies Act 2006. The emergence of the principle constitutes an important development in corporate governance, particularly in determining what directors must consider when managing the affairs of their companies. This book explains and analyzes the nature of ESV and its contribution to corporate governance whilst also examining where it fits into the existing theoretical landscape. Andrew Keay traces the development of the principle of ESV and considers it in the context of the existing principles which have historically influenced corporate governance. In doing so, the book draws on several empirical studies thereby enabling us to gauge how the ESV principle is addressed in commercial practice. Keay goes on to compare ESV with the constituency statutes that apply in the US in order to determine whether anything can be learnt from the American experience. The book also assesses the reaction of other jurisdictions to the advent of ESV and considers what impact ESV will have on financial institutions and non-financial institutions in the aftermath of the global financial crisis.

This book provides comprehensive analysis of the recent enlargement of the EU, shedding light on the rationale behind the EU's decisions to enlarge, examining the side effects these choices have on a range of EU policies and particularly on the effect of the Acquis on candidate countries. Emphasis is placed on the area of company law, which occupies a central part in a country's economic planning and therefore its commercial law. Past enlargements are thoroughly explained and the potential impact of the new political landscape in Europe in the wake of the popular rejection of the European Constitutional Treaty on future enlargements is evaluated. A comparative methodology for commercial law drafting in transition and developing economies is put forward and the book concludes with a complete draft of a model company law for transition (and developing) economies. The aim is to provide a template for discussion. This book will be of great interest to those interested in considering the influence that the prospect of EU membership has on transition countries in general, the emphasis being on laws vital to emerging market economies, particularly commercial and company law.

Although much has been written about innovation in the past several years, not all parts of the innovation lifecycle have been given the same treatment. This volume focuses on the important first step of arranging financing for innovation before it is made, and explores the feedback effect that innovation can have on finance itself. The book brings together a diverse group of leading scholars in order to address the financing of innovation. The chapters address three key areas, intellectual property, venture capital, and financial engineering in the capital markets, in order to provide fresh and insightful analyses of current and future economic developments in financing innovation. Chapters on intellectual property cover topics including innovation in law-making, orphan business models, and the use of intellectual property to protect financial engineering innovations and developing intellectual property regimes in Brazil, Russia, India, and China. The book also covers the tax treatment of venture capital founders, the treatment of preferred stock by the Delaware Courts, asset-backed lending hedge funds, and corporate governance for small businesses after the Dodd-Frank financial reform bill. The book will be of interest to scholars, practitioners, and students in law, innovation, finance, and business.