Chapter

The Role and Duties of Corporate Directors

Roy C. Smith and Ingo Walter

in Governing the Modern Corporation

Published in print February 2006 | ISBN: 9780195171679
Published online September 2006 | e-ISBN: 9780199783618 | DOI: http://dx.doi.org/10.1093/0195171675.003.0004
 The Role and Duties of Corporate Directors

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The interests of the corporation are entrusted to a board of directors, who are the elected representatives of stockholders (the members of the corporation), who in turn appoint senior management who direct the business of the firm. There is no US federal corporation law applicable to private-sector corporations, although there are a small number of special-purpose federally chartered corporations. The federal government does, however, seek to regulate and protect “interstate” commerce in a variety of ways — particularly through extensive regulation of the capital markets — and these affect state-created corporations significantly.

Keywords: corporation law; corporate directors; director conduct; corporate governance

Chapter.  11606 words. 

Subjects: Microeconomics

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