A Contractual Approach to the Regulation Corporate Directors' Fiduciary Duties

María Gutiérrez

Working Papers from CEMFI

Abstract: Traditional American corporation statutes state that the business and affairs of the corporation shall be managed by a board of directors who act as fiduciaries of the corporation. The purpose of this paper is to explain the economic logic underlying the regulation of corporate directors' fiduciary duties, placing special emphasis on the consequences of the adoption of protective measures for the directors such as indemnification and liability insurance.

Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:cmf:wpaper:wp2000_0013

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