Post by Sapphire Capital on Sept 12, 2008 17:55:09 GMT 4
Globally Integrated Corporations as 'Good for the Country'
: The Impact of Soft LawRobert B. Thompson
Vanderbilt University - School of Law; Vanderbilt University - Owen Graduate School of Management
July 14, 2008
Vanderbilt Public Law Research Paper No. 08-35
Abstract:
Societal control over corporations in part depends on the answer to the question of whether there are sufficient incentives or controls on corporations to insure their interests parallel those of society, or in a paraphrase of a famous statement of a half-century ago, is what is good for General Motors good for the country? This paper addresses the traditional way that governments have sought to constrain corporate behavior, how that interaction shifts when corporate subsidiaries are involved, and finally how outsourcing can again readjust that dynamic yet again. Where there are three possible methods to externalize - the use of the corporation itself, a subsidiary as a separate and distinct liability-capturing device, and the ability to move assets outside the country of regulation - soft law becomes a larger player in defining a societal response.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1159934_code254274.pdf?abstractid=1159934&mirid=2