Leon Yehuda Anidjar (Erasmus University Rotterdam (EUR) - Rotterdam School of Management (RSM)) has posted The Pluralist Foundations of Corporate Law and Governance on SSRN. Here is the abstract:
For several decades, jurists have invested significant efforts in developing the law in general and private law, in particular, in terms of pluralism. However, the conceptualization of corporate law and governance under pluralist notions rarely exists. This Article intends to fill this void by providing a novel pluralist theory of corporate governance regimes. This account is based on social systems theory and the framework of complexity that is rooted in the natural sciences and was since spread to social disciplines also. I argue that under conditions of complexity, corporate governance eco-system should be designed following a firm-specific perspective. Such perspective incorporates the influence of participants’ heterogeneity, internal power relations and the various industries in which companies operate on firm performance. This argument has profound implications for redesigning legal doctrines, such as fiduciary duties of controlling shareholders, regulation of related party transactions, the company objective, and officers’ duty of care in different legal systems.
