The Rules Governing the Relationships Among a Company’s Stakeholders: Company Law

Motohiro Sakaki () and Hidefusa Iida ()
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Motohiro Sakaki: Kobe University
Hidefusa Iida: University of Tokyo

Chapter Chapter 3 in Econo-Legal Studies, 2021, pp 45-70 from Springer

Abstract: Abstract It is important and interesting to analyze company law from the perspective of both fairness and efficiency. The challenge of company law is to provide rules that reasonably reconcile the interests among the stakeholders: shareholders, directors, and creditors. In designing better legal rules, we must know what interests each stakeholder has and how the behavior of each stakeholder will change under different rules. The tools of economics can be of great help in analyzing this point. Economic analysis may cast doubt on the explanations that have traditionally been believed to be correct by legal scholars and reveal functions of company law that have been overlooked. The purpose of this chapter is to make the reader realize the above by analyzing a conflict of interests, a situation in which the interests of the parties involved are in sharp conflict.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-5145-8_3

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DOI: 10.1007/978-981-16-5145-8_3

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