Toward Common Sense and Common Ground? Reflections on the Shared Interests of Managers and Labor in a More Rational System of Corporate Governance

Authors

Leo E. Strine Jr., Vice Chancellor, Delaware Court of Chancery; Austin Wakeman Scott Lecturer in Law and Senior Fellow of the Corporate Governance Program, Harvard Law School; Adjunct Professor of Law, University of Pennsylvania Law School and Vanderbilt University School of Law; Henry Crown Fellow, Aspen Institute.Follow

Document Type

Article

Publication Date

2007

Abstract

In this essay, Vice Chancellor Strine reflects on the common interests of those who manage and those who labor for American corporations. The first part of the essay examines aspects of the current corporate governance and economic environment that are putting management and labor under pressure. The concluding section of the essay identifies possible corporate governance initiatives that might — by better focusing stockholder activism in particular and corporate governance more generally on long-term, rather than short-term, corporate performance — generate a more rational system of accountability, that focuses on the durable creation by corporations of wealth through fundamentally sound, long term business plans.

Keywords

Directors, Boards, Shareholders, Corporate governance, Managers, Corporate elections, Institutional investors, Corporate social responsibility, CSR, Social welfare, Organized labor, Accountability, Durable wealth creation

Publication Title

Journal of Corporate Law

Publication Citation

33 J. Corp. L. 1 (2007)

Repository Citation

Strine, Leo E. Jr., "Toward Common Sense and Common Ground? Reflections on the Shared Interests of Managers and Labor in a More Rational System of Corporate Governance" (2007). All Faculty Scholarship. 179.
https://scholarship.law.upenn.edu/faculty_scholarship/179