주주의 지위 -주주중심주의의 비판적 고찰-
The Status of a Shareholder: A Critical Study on the Shareholder Primacy Doctrine
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This article is about the shareholder primacy doctrine and owner- theory. Traditionally legal scholarship has recognized the shareholder primacy doctrine as a leading principle which governs corporate law. But this article challenges that recognition on the ground that the shareholder primacy doctrine can not afford to cope with recent global crises and corporate corruptions. The shareholder primacy doctrine can not be reasoned only from contractarian theory in the common law jurisdictions, but from owner-theory in the civil law jurisdictions. But the reasoning of two theories is not appropriate in that a corporation is not a nexus, but a legal entity separated from it's shareholders, and a corporation can not be owned by anyone. More important thing to notice is that the theories are not designed to solve the foregoing the issues (global crises and corporate corruption), because the contractarian theory denies corporate social responsibility and the owner-theory makes it a rule for a corporation to pursue maximizing interests of shareholders.
Abstract
This article is about the shareholder primacy doctrine and owner- theory. Traditionally legal scholarship has recognized the shareholder primacy doctrine as a leading principle which governs corporate law. But this article challenges that recognition on the ground that the shareholder primacy doctrine can not afford to cope with recent global crises and corporate corruptions. The shareholder primacy doctrine can not be reasoned only from contractarian theory in the common law jurisdictions, but from owner-theory in the civil law jurisdictions. But the reasoning of two theories is not appropriate in that a corporation is not a nexus, but a legal entity separated from it's shareholders, and a corporation can not be owned by anyone. More important thing to notice is that the theories are not designed to solve the foregoing the issues (global crises and corporate corruption), because the contractarian theory denies corporate social responsibility and the owner-theory makes it a rule for a corporation to pursue maximizing interests of shareholders.
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