Chapter

Strengthening the Constraints

J. E. Parkinson

in Corporate Power and Responsibility

Published in print April 1995 | ISBN: 9780198259893
Published online March 2012 | e-ISBN: 9780191682018 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198259893.003.0027

Series: Clarendon Paperbacks

Strengthening the Constraints

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This chapter describes the mechanisms by which third-party interests might be more fully integrated into the corporate decision-making process. It also explores a number of legal reforms by which companies might be induced to give greater weight in their decision-making processes to public interests and to other social considerations than is mandated by the profit maximization rule. It begins by summarizing the current principles of criminal liability as they apply to companies and their agents, before going on to explore these issues. It reviews two models of corporate responsibility, each viewing responsibility as a characteristic of decision-making processes rather than as involving compliance with a particular set of substantive behavioural norms.

Keywords: corporate decision-making; legal reforms; public interests; profit maximization rule; criminal liability; corporate responsibility

Chapter.  25704 words. 

Subjects: Company and Commercial Law

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