| Popis: |
It is increasingly recognized that vexing governance-related problems will require creative governance-related solutions, and this chapter explores potential reforms in various industry contexts that could address persistent corporate pathologies and re-calibrate corporate governance toward more sustainable models. First, the chapter revisits the historical approach to constraining risk-taking in financial firms by adjusting upward the governance levers for board liability exposure and shareholder liability exposure, while adjusting downward the shareholder orientation lever—adjustments that secondarily impact other governance levers as well. The analysis then turns to forms of non-financial firms thought to raise similar systemic concerns, and other companies engaged in inherently hazardous industries where there is substantial risk of generating significant negative externalities—in each case including consideration of the degree to which regulatory rationales and design features explored in the context of financial firms might offer benefits in these additional industry settings as well. |
