The American conception of the duty of loyalty requires that directors act solely in the best interest of the corporation.1 In Germany, however, corporations are perceived to serve a broad social function rather than simply aiming to serve shareholder interests, and there is significant freedom under German law for company directors to factor in considerations unrelated to profit…
Tag: International Corporate Governance
Corporate Law in Post-Communist Countries: Changes in the Czech Republic
Within every legal system, corporate law serves the immensely important function of regulating influential economic actors and economic affairs. It is therefore crucial that corporate law attracts the necessary academic and legislative attention to pursue perpetual development of an appealing framework that will not itself be an obstacle for economic activities and operations. For post-communist…