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Strategic Management And The Role Of Legal Norms In Creating Corporate Value, Nadelle Grossman
Strategic Management And The Role Of Legal Norms In Creating Corporate Value, Nadelle Grossman
Nadelle Grossman
Delaware corporate law currently requires that directors oversee their firm’s systems to monitor risk so that they can limit their firm’s losses from such risks. Corporate law does not, however, require either directors or officers to oversee the interrelated process of managing that firm’s strategy for gains. Yet managing both risk and strategy are essential to a firm in creating value. In fact, as I argue in the paper, the current focus by business courts and academic commentators only on risk management oversight to prevent losses could actually undermine a firm’s management of its strategy for gains. I therefore propose …
Strategic Management And The Role Of Legal Norms In Creating Corporate Value, Nadelle Grossman
Strategic Management And The Role Of Legal Norms In Creating Corporate Value, Nadelle Grossman
Nadelle Grossman
Delaware corporate law currently requires that directors oversee their firm’s systems to monitor risk so that they can limit their firm’s losses from such risks. Corporate law does not, however, require either directors or officers to oversee the interrelated process of managing that firm’s strategy for gains. Yet managing both risk and strategy are essential to a firm in creating value. In fact, as I argue in the paper, the current focus by business courts and academic commentators only on risk management oversight to prevent losses could actually undermine a firm’s management of its strategy for gains. I therefore propose …