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Conclusion

It Can Happen Here

Published online by Cambridge University Press:  30 April 2018

David Yosifon
Affiliation:
Santa Clara University School of Law
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Summary

The conclusion explores the feasibility of altering the shareholder primacy norm witihn the current political environment in the United States. Such a reform is more plausible than might at first be imagined. Corporate social responsibility rhetoric by large corporations, and corporate executives, has primed the American people to think of socially responsible corportate governance as an important social value, making a proposal to legally require that standard not so dramatic a proposal. Ordinary people, workers, and consumers, would likely welcome the change. Many large firms already have all the tools they need to undertake multi-stakeholder governance. They have diversity officers and social responsibility officers, they make reports and host stakeholder summits. They have developed a rich language for talking about corporate social responsibility. All that is missing is a corproate law that prescribes the authority, and obligation, for corporations to act in a socially responsible way, authentically, and lawfully, even when doing so is the more profitable course.
Type
Chapter
Information
Corporate Friction
How Corporate Law Impedes American Progress and What to Do about It
, pp. 206 - 210
Publisher: Cambridge University Press
Print publication year: 2018

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  • Conclusion
  • David Yosifon
  • Book: Corporate Friction
  • Online publication: 30 April 2018
  • Chapter DOI: https://doi.org/10.1017/9781316890578.010
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To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • Conclusion
  • David Yosifon
  • Book: Corporate Friction
  • Online publication: 30 April 2018
  • Chapter DOI: https://doi.org/10.1017/9781316890578.010
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Conclusion
  • David Yosifon
  • Book: Corporate Friction
  • Online publication: 30 April 2018
  • Chapter DOI: https://doi.org/10.1017/9781316890578.010
Available formats
×