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Creating the Responsible Firm: In Search for a New Corporate Governance Paradigm

Published online by Cambridge University Press:  06 March 2019

Peter Cornelius  and
Bruce Kogut

Extract

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The term corporate governance has come to mean many things to many people. One important reason is that views continue differ as to the fundamental question of the role the firm. While some believe that corporations can contribute best to society if they do what they do best, namely to provide high quality goods and services to the marketplace, for others corporate responsibilities are much broader.

Type
Private Law
Information
German Law Journal , Volume 4 , Issue 1 , 01 January 2003 , pp. 45 - 52
Copyright
Copyright © 2003 by German Law Journal GbR 

References

1 This paper is a slightly different version of a presentation delivered by Peter Cornelius at the Second European Corporate Governance Conference held in Brussels on November 28-29, 2002. The paper is based on the forthcoming study Corporate Governance and Capital Flows (New York: Oxford University Press), edited by the authors of the present paper.Google Scholar

2 See, Adolf Berle and Gardiner Means, The Modern Corporation and Private Property (1932).Google Scholar

3 Mark Möbius, Corporate Governance: Responsibilities of Fund Managers and Institutional Investors, in Corporate Governance and Capital Flows in a Global Economy (Peter K. Cornelius and Bruce Kogut eds., forthcoming).Google Scholar

4 See, e.g., Coffee, John C. Jr., What Caused Enron?: A Capsule Social and Economic History of the 1990s, in Corporate Governance and Capital Flows in a Global Economy (Peter K. Cornelius and Bruce Kogut eds., forthcoming).Google Scholar

5 See, Berle, A. A. Jr., Corporate Powers as Powers in Trust, 44 Harvard Law Review 1049 (1931); E.M. Dodd, For Whom are Corporate Managers Trustees?, 45 Harvard Law Review 1145 (1932).Google Scholar

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7 Blair, Margaret M., Shareholder Value, Corporate Governance and corporate Performance: A Post-Enron Reassessment of the Conventional Wisdom, in Corporate Governance and Capital Flows in a Global Economy (Peter K. Cornelius and Bruce Kogut eds., forthcoming).Google Scholar

8 See, O'Sullivan, Mary, Employees and Corporate Governance, in Corporate Governance and Capital Flows in a Global Economy (Peter K. Cornelius and Bruce Kogut eds., forthcoming).Google Scholar

9 Philipps, Michael J., Corporate Values, Enterprise Risk, and the Board, in Corporate Governance and Capital Flows in a Global Economy (Peter K. Cornelius and Bruce Kogut eds., forthcoming).Google Scholar

10 For a detailed discussion, see, Lutgart van der Berghe, Corporate Governance in a Globalising World: Convergence or divergence? A European Perspective (2002).Google Scholar

11 See, http://www.wbcsd.ch/aboutus/members.htm.Google Scholar

12 See, http://www.weforum.org/pdf/GCCI/GCC_CEOstatement.pdf.Google Scholar

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14 For a detailed analysis, see, Alois Flatz, Corporate Sustainability and Financial Indexes, in Environmental Performance Measurement. The Global Report 2001-2002, pp. 66–81 (Daniel C. Esty and Peter K. Cornelius eds., 2002).Google Scholar

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17 On this debate, see, Forest Reinhardt, Tests for Sustainability, in The Global Competitiveness Report 2002-2003 (Peter K. Cornelius ed., forthcoming).Google Scholar