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Boards and Sustainable Value Creation: The Legal Entity, Co-Determination and Other Means

Veldman, J. ORCID: 0000-0001-8615-5844 (2019). Boards and Sustainable Value Creation: The Legal Entity, Co-Determination and Other Means. European Business Law Review, 30(2), pp. 279-300.


Boards of directors face growing pressures to engage with systemic risks and sustainable value creation. In this article I explore how an entity view in company law provides a consideration of the status, architecture and purpose of the modern corporation that theoretically offers the capacity to integrate such issues in corporate strategy. I also explore how specific models of corporate architecture such as co-determination relate to such an entity view. Exploring different perspectives on the VW case I show how a dominant view of corporate governance conflicts with the assumptions underlying co-determination. In relation to these issues I argue that the entity view and co-determination do not provide panacea for the reform of corporate governance theory and practice, but provide conceptual building blocks that may be used to engage in a creative way with notions of status, architecture and purpose in order to enhance the capacity for company directors to engage with systemic risks and sustainable value creation in corporate strategy.

Publication Type: Article
Additional Information: Reprinted from European Business Law Review, to be published in Volume 30, issue 2, 279-300, 1 July 2019, with permission of Kluwer Law International.
Publisher Keywords: Corporate governance, sustainable value creation, long-termism, sustainability, corporate architecture, corporate purpose, co-determination, separate legal entity, entity view, systemic risk, Volkswagen scandal
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
K Law
Departments: Bayes Business School > Management
SWORD Depositor:
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