Directors' Decisions and the Law

Directors' Decisions and the Law PDF

Author: Alice Belcher

Publisher: Routledge

Published: 2014-02-24

Total Pages: 232

ISBN-13: 1134445296

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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.

Directors' Decisions and the Law

Directors' Decisions and the Law PDF

Author: Alice Belcher

Publisher: Routledge

Published: 2014-02-24

Total Pages: 241

ISBN-13: 1134445229

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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.

Corporate Director's Guidebook

Corporate Director's Guidebook PDF

Author: American Bar Association. Committee on Corporate Laws

Publisher: American Bar Association

Published: 2007

Total Pages: 140

ISBN-13: 9781590318508

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The Corporate Director's Guidebook is recognized as the premier authority on the director's role and the board's functions. It is read, consulted and cited by board members, executives, lawyers and academics nationwide. Now available as a new Fifth Edition, the Guidebook completely updates its fourth edition published in 2004. This new Fifth Edition addresses recent effects the Sarbanes-Oxley Act has had in the corporate governance arena and its impact on the legal responsibilities of directors of public companies.

The Director and The Manager

The Director and The Manager PDF

Author: David S. Fushtey

Publisher: IAP

Published: 2019-02-01

Total Pages: 1047

ISBN-13: 1641130512

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Machiavelli Had it Easy is an engaging text for the emerging discipline of governance. Gaps arise when directors and managers come together from diverse vocational and cultural languages and interests. Compressed information streams in the digital age, yet few reconcile silos of business, legal expertise and regulatory public-interests for informed decisions. This text presents research and a market-tested decision-framework for comparative law, market practice, and human nature in the vital strategic-oversight role of governance. Informed by cognitive science, business practice and legal duties, one conclusion is that bias and self-interests are instinctive but reconciling best-interests is not. Too often lessons learned from centuries of law are overlooked. The chapters are a dozen inquiries into recurring problems in the boardroom. Part one is an entry-level technical reference of law and governance principles. Unique appendices of keywords and case notes will aid those new to markets governed by the western rule-of-law and those tripping on gaps in comparative jargon. Part two is a series of practical hot-topics in the context of law and governance; part three looks to next steps in accountability and liability. The text will help accountants, engineers, lawyers, and business operations and market-policy experts from around the world work together, and; professors, professionals and students anticipate change. After drilling through accountability and liability for hybrid organizations, typical crises are revealed to be from a lack of aligning interests and related information churn. Conclusions of the how and why of governance systems link the human condition and the rule-of-law in the digital age.

Corporate Governance

Corporate Governance PDF

Author: Walter Effross

Publisher: Aspen Publishing

Published: 2014-12-09

Total Pages: 842

ISBN-13: 1454835206

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Walter Effross is a superb teacher and succeeds in making a sometimes dry subject interesting to students. Corporate Governance contrasts schools of thought, explaining the conflicts between such theories as contractarianism and communitarianism, and such emerging academic approaches as empiricism and behavioral economics. The text includes excerpts from only the most important sections of judicial decisions along with their relevant factual and procedural context. Extensive notes address the reactions to decisions from other courts, commentators, counsel, and executives. Dozens of examples ripped from the headlines, excerpted from actual corporate documents, and drawn from popular culture illustrate key principles and spark class discussions. More than one hundred suggestions for paper topics are especially useful for participants in research and writing seminars. An appendix categorizes and details more than eighty separate initiatives that shareholder activists and commentators have proposed. A wide range of excerpts from corporate documents and court decisions interpreting these materials help students translate the caselaw and learn drafting techniques. The Second Edition reflects legislative, regulatory, judicial, and Fortune 500 developments since mid-2009 as well as new examples from corporate documents, the Great Books, and popular culture. Detailed coverage of new and emerging topics includes discussion of the governance of nonprofit corporations the emerging types of social enterprises such as benefit corporations, B corporations, and flexible purpose corporations; the board s responsibility to rein in the cyber-risks raised by hackers, e-mails, Web sites, and social media; and the implications for directors, officers, and counsel of new research on avoiding common cognitive traps that compromise decision-making in situations of risk and uncertainty. The Second Edition explores governance changes wrought by the financial crisis and reform legislation; the responsible corporate officer doctrine, the honest services doctrine, and other theories of executive liability; issues raised by crowdfunding ; and the consequences of the Citizens United decision removing limits on companies independent political expenditures. New appendices give detailed advice on identifying, developing, refining, and researching topics for articles and on using the publishing process to invigorate one s professional network and career.

The Directors' Handbook

The Directors' Handbook PDF

Author: Thomas J. Dougherty

Publisher:

Published: 2018

Total Pages:

ISBN-13: 9781522150046

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CSC brings you The Directors' Handbook, one of today's leading guides to corporate governance, captures the latest developments that directors of public companies face from both a practical and legal perspective. The Handbook provides insightful analysis of the evolving regulatory and legal landscape, and practical, hands-on information that directors can use to guide their companies.The 2018 Edition of The Directors' Handbook includes insight on how to best address the full spectrum of key governance and disclosure issues, and how to handle shareholder activist campaigns and proxy battles. Complete coverage includes:Creating an audit committee chartCrisis managementDirector and office insuranceMajority voting for directorsThe interplay of stock exchange independence rules and state law standardsThe evolving role of proxy advisory groupsThe role of the corporate secretaryStaggered board repealsBest practices for handling restatement crisesThe political economy of corporations and corporate governance approaches around the role of the corporate secretaryThis edition features an all new Foreword, in which author Thomas J. Dougherty examines director duties under the very different corporate governance frameworks adopted by Delaware for companies incorporated there, as contrasted with those of other states, and their very different requirements for shareholder challenges to director decisions; explores the role and impact of proxy advisory firms, activist agendas, pre-populated proxies and the narrowing of proxy participation; alerts directors to new limits on director compensation awards; and makes a compelling case for greater diversity on corporate boards.Other updated content includes a new section on the Public Company Accounting Oversight Board's new model for auditor reports intended to make auditor reports more useful to investors, as well as significant updates regarding director compensation, including nonemployee director compensation, and developments since the SEC rules amendments and Dodd-Frank enactments. In addition you will find discussion on the Securities and Exchange Commission no-action process regarding proxy access proposals and commentary on the impact of the 2017 Tax Reform Act, withdrawal from the Trans-Pacific Partnership, NAFTA renegotiation and Brexit. There is also an expansion of discussion on board minutes and directors' notes.

Directors' Duties and Shareholder Litigation in the Wake of the Financial Crisis

Directors' Duties and Shareholder Litigation in the Wake of the Financial Crisis PDF

Author: Joan Loughrey

Publisher: Edward Elgar Publishing

Published: 2013-01-01

Total Pages: 271

ISBN-13: 0857939661

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ÔThis book takes us back to the financial crisis and asks: should the directors of the financial institutions that caused the crisis be held responsible to their investors? LoughreyÕs and her contributorsÕ analysis of that question and the suggestions to implement their proposals are insightful and timely. This is a must-read book for those of us who are still trying to determine how to avoid the next financial crisis.Õ Ð Randall Thomas, Vanderbilt Law School, US The financial crisis revealed failings at board level at many financial institutions. But despite calls for bank boards to be held to account, there has been a remarkable paucity of litigation against bank directors for breach of their duties. This book assesses whether the law relating to directorsÕ duties and shareholder litigation has contributed to this, taking into account the changes to both that were introduced by the Companies Act 2006. With contributions from leading academics and practitioners, the book examines the directorÕs duty of care and skill, the s.172 duty, reporting obligations under s.417 of the Companies Act 2006, and shareholder litigation including the derivative action and just and equitable winding up. It concludes that neither the common law nor the statutory duties and derivative action under the Companies Act 2006 function effectively to hold directors to account and analyses why this is so. This detailed book will appeal to academics in company law and corporate governance as well as commercial law practitioners particularly those who specialize in company litigation.

The Business Judgment Rule

The Business Judgment Rule PDF

Author: Dennis J. Block

Publisher: Aspen Publishers

Published: 1998

Total Pages: 1248

ISBN-13:

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Meticulously researched and thoroughly analyzed, Business Judgment Rule: Fiduciary Duties of Corporate Directors, Fifth Edition combines cases, articles, and statutory provisions to help you discover new strategies and tactics for dealing with attempts to gain control of a corporation. This authoritative reference leaves no aspect of the business judgment rule, the fiduciary duties of corporate directors, And The law of corporate governance unexplored, unreviewed, or unanswered. This work is comprehensive in its treatment of the intellectual underpinnings and practical applications of the business judgment rule, including such vital areas as: The business judgment rule presumption The duties of care and loyalty The corporate opportunity doctrine Director and officer compensation Wrongful coercion and preclusive conduct The pre-litigation demand requirement in derivative litigation Indemnification and advancement of litigation expenses incurred by directors and officers D & O insurance The Model Business Corporation Act and Principles of Corporate Governance and much more!

The Enforcement of Directors' Duties in Britain and Germany

The Enforcement of Directors' Duties in Britain and Germany PDF

Author: Hans-Christoph Hirt

Publisher: Peter Lang

Published: 2004

Total Pages: 408

ISBN-13: 9783039100583

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The power to control litigation in the company's name is normally vested in the board of directors. This gives rise to a conflict of interest whenever some or all of the directors breach their duties. In such a situation, the board's decision whether or not to litigate is potentially tainted because the wrongdoers are part of the decision-making process. The board as a whole is therefore an unsuitable decision-making body and the following question arises: who should decide whether it is in the company's interest to initiate litigation against the alleged wrongdoers? There are a number of different persons and bodies in which the decision-making power could be vested. The British approach is the reversion of management power to the shareholders in general meeting and, in certain restricted situations, the availability of the derivative action brought by a shareholder on behalf of the company. Both mechanisms give rise to significant difficulties. This book begins by explaining the board's conflict of interest, sets out a theoretical framework of legal strategies that cover the whole range of approaches to deal with it and analyses their strengths and weaknesses. The analysis consists of an assessment and comparison of four models of the enforcement of directors' duties, which are based on the current law and reform proposals in Britain and Germany. Particular reference is made to recent case law and its practical implications.

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