CORPORATE SOCIAL RESPONSIBILITY AND THE COMPANIES ACT 2006

Stephen F. Copp

Economic Affairs, 2009, vol. 29, issue 4, 16-21

Abstract: The Companies Act 2006 enshrines in law the concept of ‘enlightened shareholder value’, a form of corporate social responsibility, in place of a director's traditional common law duty of loyalty. This article demonstrates that the conceptual foundations of the enlightened shareholder value approach are flawed, resulting in a confusing compromise, with potentially damaging efficiency consequences.

Date: 2009
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https://doi.org/10.1111/j.1468-0270.2009.01942.x

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