Corporate Law and Governance Pluralism

Anidjar, Leon

Publication:
Corporate Law and Governance Pluralism

dc.contributor.author	Anidjar, Leon
dc.contributor.author	Anidjar, Leon
dc.contributor.ror	https://ror.org/02jjdwm75
dc.date.accessioned	2024-07-08T13:15:09Z
dc.date.available	2024-07-08T13:15:09Z
dc.date.issued	2022
dc.description.abstract	For the past 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 according to pluralist principles rarely exists. This Essay is the first in the legal literature to address this deficiency by providing a unique pluralist theory of corporate governance regimes. It distinguishes between the plurality of corporate law's sources,values,and principles,and discusses the implications for governance. Moreover,based on the social systems' thinking and the framework of complexity,this Essay provides theoretical grounds for skepticism about any policies or structures applicable to all times and contexts. Therefore,rather than perceiving corporate governance as being identically applicable to all corporations,the law must meet the challenge of complexity by designing governance arrangements following a firm-specific perspective. Furthermore,I argue that in conditions of complexity,corporate governance eco-systems should be designed with a firm-specific view that incorporates the effect of the corporation participants' heterogeneity,the heterogeneity of its internal power relations,and the heterogeneity of industries and markets. These novel arguments have profound implications for redesigning fundamental legal doctrines - such as fiduciary duties of controlling shareholders,regulation of related party transactions,the officers' duty of care,and the company purpose. © 2022 The Author(s).
dc.description.fundingtype	I wrote this paper while I was a Fellow at the Center for Advanced Studies on the Foundations of Law and Finance, Goethe University, Frankfurt am Main (April-June 2021). My genuine gratitude to Tobias Tröger for his continuing support and to Martin Gelter, Bernard Sharfman, Adam Hofri-Winogradow
dc.description.fundingtype	Barak Yarkoni, Casimiro Nigro and Joseph Liptrap, for their exceptional comments. I am also thankful to the faculty members of IE Law School for important suggestions on earlier drafts of this paper. Lastly, I extend my sincere appreciation to the Journal's Editor, Professor Andrew Bottere and the reviewers of this piece for their remarkably excellent remarks and suggestions for improvements. All URLs were last accessed on 12 September 2021.
dc.format	application/pdf
dc.identifier.citation	Anidjar, L. (2022). Corporate law and governance pluralism. Canadian Journal of Law & Jurisprudence, 35(2), 283-320.
dc.identifier.doi	https://doi.org/10.1017/cjlj.2022.12
dc.identifier.issn	8418209
dc.identifier.officialurl	https://www.scopus.com/inward/record.uri?eid=2-s2.0-85133305398&doi=10.1017%2fcjlj.2022.12&partnerID=40&md5=34ae56b23372d9aa6b057235bde2496b
dc.identifier.uri	https://hdl.handle.net/20.500.14417/3165
dc.issue.number	2
dc.journal.title	Canadian Journal of Law and Jurisprudence
dc.language.iso	eng
dc.page.final	320
dc.page.initial	283
dc.publisher	Cambridge University Press
dc.relation.entity	IE University
dc.relation.school	IE Law School
dc.rights	Attribution Non-Commercial No-Derivatives 4,0 International
dc.rights.accessRights	info:eu-repo/semantics/openAccess
dc.rights.uri	https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.title	Corporate Law and Governance Pluralism
dc.type	info:eu-repo/semantics/article
dc.version.type	info:eu-repo/semantics/publishedVersion
dc.volume.number	35
dspace.entity.type	Publication
person.identifier.scopus-author-id	57205502247
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