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Faculty Scholarship at Penn Law

Economics

Government Regulation

2011

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Government Governance And The Need To Reconcile Government Regulation With Board Fiduciary Duties, Lisa Fairfax Jan 2011

Government Governance And The Need To Reconcile Government Regulation With Board Fiduciary Duties, Lisa Fairfax

Faculty Scholarship at Penn Law

Corporate governance scandals inevitably raise concerns about the extent to which corporate directors failed in their responsibility to monitor the corporation and its managers, especially in terms of the latter's’ misdeeds. Corporate governance reforms strive to shore up directors' roles by seeking to ensure that boards have sufficient incentives to engage in effective oversight and to hold the boards more accountable. The current financial crisis has ushered in an era of significant government reform of the financial system and involvement in corporate governance matters. Such involvement has increased board of directors' responsibilities but has not reconciled those responsibilities with ...