Rethinking directors' duties in changing global markets

Abstract

Purpose

This paper aims to examine whether directors duties, as they are typically presented in Anglo‐American corporations law, remain appropriate and relevant given recent corporate governance developments and trends in global product and capital markets.

Design/methodology/approach

The paper employs a comparative approach, examining aspects of corporate governance developments in the UK, the US and Australia.

Findings

The paper finds that product and capital markets are increasingly placing a premium on good corporate social responsibility and hence, Anglo‐American corporations law should be reformed to clarify directors' capacity to address broader stakeholder concerns.

Originality/value

The paper provides a comprehensive summary of important currents in contemporary corporate governance and provides a market‐driven justification for changing corporations law.

Citation

Waring, P. (2008), "Rethinking directors' duties in changing global markets", Corporate Governance, Vol. 8 No. 2, pp. 153-164. https://doi.org/10.1108/14720700810863788