The Duty of Fair Dealing: Board Judgment in Management Led Buyouts  

Oleh:

Sebora, Terrence C. ; Rubach, Michael J.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Business Ethics vol. 17 no. 1 (Jan. 1998), page 7-13.
Topik: Fair Dealing; Board Judgment; Management Led Buyouts

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: BB27.31 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper investigates board judgment in response to management led buyouts (MLBs). Board response is suggested to be guided by the business judgment rule and its dual duties of care and loyalty. The duty of loyalty is seen to be evolving into a specification of fair dealing. With this trend, the current interpretation of the business judgment rule emphasizes the role of care and relies on the market to insure fairness. Possible failures in the MLB market which limit its effectiveness in assuring fairness are discussed. Recommendations to counteract these failures are suggested.

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