Addressing the Crisis of the Modern Corporation: The Duty of Societal Responsibility of the Board

2019 ◽  
Vol 5 (12) ◽  
pp. 305-311
Author(s):  
M. Ashurov ◽  
Yu. Shakirova ◽  
O. Turdibekov

The article discusses some issues of the formation of a multistructure economy in the Republic of Uzbekistan. The authors performed an analysis of the processes of privatization and privatization in the country. The general tendencies of privatization by stages and results are revealed and generalized. The characteristic features of the stages of denationalization are studied. The formation of the private sector and on the basis of this form of joint stock companies. The need for improving the mechanism of corporate governance in a modern corporation is highlighted.


Author(s):  
Abraham A. Singer

This chapter considers the “managerial” approach to the corporation by unpacking Berle and Means’s famous argument about the problems of the modern corporation. This approach is important because it has proven influential in its own right; the “separation of ownership from control” that Berle and Means famously observed, and the resulting power and discretion that managers enjoy, has been an important trope for critics of corporate capitalism. It is also important because it represents precisely the kind of analysis that the Chicago school’s theory of the corporation was meant to counter. The chapter concludes by contextualizing Berle and Means’s account within political theory more generally.


2010 ◽  
Vol 6 (1) ◽  
pp. 99-107 ◽  
Author(s):  
STEVEN G. MEDEMA

Abstract:Recent writings by Richard Posner in this Journal and elsewhere appear to mark a departure from the Chicago price theory tradition with which Posner long has been associated. This paper picks up on one facet of this: the similarity of Posner's views of the corporation, and of executive compensation in particular, to the perspective laid out by Adolf Berle and Gardiner Means in The Modern Corporation and Private Property – a perspective that has for decades been harshly rejected by the Chicago school.


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