Social Sciences
4 years ago

Director Primacy Redefines Corporate Governance for a New Era

Gower eBooks
Director Primacy: the Means and Ends of Corporate Governance
Stephen M. Bainbridge

Paper Summary

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Corporate Governance

The chapter discusses how directors play a crucial role in corporate governance, focusing on key legal aspects like shareholder rights and board powers in takeovers. It explains the director primacy model's unique perspective on corporate governance, emphasizing the board's authority over management. This model is seen as more effective than managerialism in both theoretical and practical terms. The traditional view of corporations as contracts among different parties is also touched upon.