BOOK CHAPTER
Cite BOOK Chapter
Style
Format
Rethinking Oversight Duties and Responsibilities in Conglomerates
Eckstein, Asaf | Parchomovsky, Gideon
In: Law in Times of Crisis (2024), pp. 425–443
Additional Information
Chapter Details
Pricing
Author Details
Asaf Eckstein
Eckstein, Asaf, Prof. Dr., Associate Professor, Faculty of Law, Hebrew University, Israel
Gideon Parchomovsky
Parchomovsky, Gideon, Prof. Dr., Faculty of Law, HebrewUniversity, Jerusalem, Israel, Carey Law School, University of Pennsylvania, USA
References
-
Arlen, Jennifer: The Story of Allis-Chalmers, Caremark, and Stone: Directors’ Evolving Duty to Monitor, in: Ramseyer, Mark J. (ed.), Corporate Law Stories, New York 2009, pp. 323–346.
Google Scholar -
Bainbridge, Stephen M.: Is Caremark Still the Hardest Claim for Plaintiffs to Win in Corporate Law?, 5.03.2020, available at: https://www.professorbainbridge.com/professorbainbridgecom/2020/05/is-caremark-still-the-hardest-claim-for-plaintiffs-to-win-in-corporate-law.html (accessed at 17.4.2023).
Google Scholar -
Bainbridge, Stephen M.: Abolishing Veil Piercing, Journal of Corporation Law Vol. 26, 2001, pp. 479–536.
Google Scholar -
Belenzon, Sharon/Lee, Honggi/Patacconi, Richard: Towards a Legal Theory of the Firm: The Effects of Enterprise Liability on Asset Partitioning, Decentralization and Corporate Group Growth, NBER Working Papers 24720, National Bureau of Economic Research, Cambridge 2018.
Google Scholar -
Berle, Adolf A. Jr.: The Theory of Enterprise Entity, Columbia Law Review Vol. 47, 1947, pp. 343–358.
Google Scholar -
Black, Lewis S. Jr.: Why Corporations Choose Delaware, Delaware 2007.
Google Scholar -
Blumberg, Phillip I.: Law of Corporate Groups: Problems of Parent and Subsidiary Corporations Under Statutory Law of General Application, Boston 1989.
Google Scholar -
Blumberg, Phillip I.: Limited Liability and Corporate Groups, The Journal of Corporation Law Vol. 11, 1986, pp. 573–631.
Google Scholar -
Blumberg, Phillip I.: The Increasing Recognition of Enterprise Principles in Determining Parent and Subsidiary Corporation Liabilities, Connecticut Law Review Vol. 28, 1996, pp. 295–346.
Google Scholar -
Blumberg, Phillip I.: The Law of Corporate Groups, Connecticut Law Review Vol. 37, 2005, pp. 605–617.
Google Scholar -
Blumberg, Phillip I.: The Law of Corporate Groups: Procedural Problems in the Law of Parent and Subsidiary Corporations, Boston 1983.
Google Scholar -
Blumberg, Phillip I.: The Multinational Challenge to Corporation Law: The Search for a New Corporate Personality, New York 1993.
Google Scholar -
Blumberg, Phillip I./Strasser, Kurt A.: Law of Corporate Groups: Problems of Parent and Subsidiary Corporations Under State Statutory Law, Boston 1995.
Google Scholar -
Blumberg, Phillip I./Strasser, Kurt A.: Law of Corporate Groups: Problems of Parent and Subsidiary Corporations Under Statutory Law Specifically Applying Enterprise Principles, Boston 1992.
Google Scholar -
Burch, Regina F.: Director Oversight and Monitoring: The Standard of Care and the Standard of Liability Post-Enron, Wyoming Law Review Vol. 6, 2006, pp. 481–532.
Google Scholar -
Coffee, John C.: Corporate Crime and Punishment: The Crisis of Underenforcement, Oakland 2020.
Google Scholar -
Coffee, John C. Jr.: “No Soul to Damn: No Body to Kick”: An Unscandalized Inquiry into the Problem of Corporate Punishment, Michigan Law Review Vol. 79, 1981, pp. 386–459.
Google Scholar -
Cyert, Richard M./March, James G.: Behavioral Theory of the Firm, 2nd edition, Cambridge/Mass 1992.
Google Scholar -
Dearborn, Meredith: Enterprise Liability: Reviewing and Revitalizing Liability for Corporate Groups, California Law Review Vol. 97, 2009, pp. 195–261.
Google Scholar -
Deloitte: Governance of Subsidiaries: A Survey of Global Companies (2013), available at: https://www2.deloitte.com/content/dam/Deloitte/in/Documents/risk/Corporate%20Governance/in-gc-governance-of-subsidiaries-a-survey-of-global-companies-noexp.pdf (accessed at 17.4.2023).
Google Scholar -
Douglas, William O./Shanks, Carrol M.: Insulation from Liability Through Subsidiary Corporations, The Yale Law Journal Vol. 39, 1929, pp. 193–218.
Google Scholar -
Eckstein, Asaf: The Virtue of Common Ownership in an Era of Corporate Compliance, Iowa Law Review Vol. 105, 2020, pp. 507–573.
Google Scholar -
Eckstein, Asaf/Parchomovsky, Gideon: The Agent’s Problem, Duke Law Journal Vol. 70, 2021, pp. 1509–1567.
Google Scholar -
Froese, Fabian Jintae/Sutherland, Dylan/Lee, Jeoung Yul/Liu, Yipeng: Challenges for International Companies in China: Implications for Research and Practice, Asian Business & Management Vol. 18, 2019, pp. 249–262.
Google Scholar -
Hansmann, Henry/Kraakman, Reinier: Toward Unlimited Shareholder Liability for Corporate Torts, The Yale Law Journal Vol. 100, 1991, pp. 1879–1934.
Google Scholar -
Hill, Claire A./McDonnell, Brett H.: Reconsidering Board Oversight Duties After the Financial Crisis, University of Illinois Law Review, 2013, pp. 859–880.
Google Scholar -
Hurt, Christine: The Duty to Manage Risk, Journal of Corporation Law Vol. 39, 2014, pp. 253–293.
Google Scholar -
Jacoby, Neil H.: The Conglomerate Corporation, Financial Analysts Journal Vol. 26, 1970, pp. 35–38, 40–42, 44–48.
Google Scholar -
Keating, Gregory C.: The Theory of Enterprise Liability and Common Law Strict Liability, Vanderbilt Law Review Vol. 54, 2001, pp. 1285–1335.
Google Scholar -
Khanna, Tarun/Yafeh, Yishay: Business Groups in Emerging Markets: Paragons or Parasites?, Journal of Economic Literature Vol. 45, 2007, pp. 331–372.
Google Scholar -
Langevoort, Donald C.: Caremark and Compliance: A Twenty-Year Lookback, Temple Law Review Vol. 90, 2018, pp. 727–742.
Google Scholar -
Laufer, William S./Caulfield, Matthew: Wall Street and Progressivism, Yale Journal on Regulation Bulletin Vol. 37, 2019, pp. 36–51.
Google Scholar -
Menell, Peter S.: Legal Advising on Corporate Structure in the New Era of Environmental Liability, Columbia Business Law Review, 1990, pp. 399–413.
Google Scholar -
Pollman, Elizabeth: Corporate Oversight and Disobedience, Vanderbilt Law Review Vol. 72, 2019, pp. 2013–2046.
Google Scholar -
Root, Veronica: The Compliance Process, Indiana Law Journal Vol. 94, 2019, pp. 203–251.
Google Scholar -
Schipani, Cindy A.: Infiltration of Enterprise Theory into Environmental Jurisprudence, Journal of Corporation Law Vol. 22, 1997, pp. 599–620.
Google Scholar -
Shaner, Megan W.: The (Un)Enforcement of Corporate Officers’ Duties, U.C. Davis Law Review Vol. 48, 2014, pp. 271–336.
Google Scholar -
Statista: World’s Largest Conglomerates as of 22.5.2022, available at: https://www.statista.com/statistics/261527/the-largest-conglomerates-worldwide-based-on-market-value/ (accessed at 17.4.2023).
Google Scholar -
U.S. Dep’t of Just.: Press Release, AmerisourceBergen Corporation Agrees to Pay $625 Million to Resolve Allegations That it Illegally Repackaged Cancer-Supportive Injectable Drugs to Profit From Overfill, 1.10.2018.
Google Scholar -
Value.Today: World Top Conglomerate Companies, available at: https://www.value.today/world-top-companies/conglomerate (accessed at 23.10.2022).
Google Scholar -
Van Loo, Rory: The Revival of Respondeat Superior and Evolution of Gatekeeper Liability, Georgetown Law Review Vol. 109, 2020, pp. 141–189.
Google Scholar -
Veasey, E. Norman/Holland, Randy J.: Caremark at the Quarter-Century Watershed: Modern-Day Compliance Realities Frame Corporate Directors’ Duty of Good Faith Oversight, Providing New Dynamics for Respecting Chancellor Allen’s 1996 Caremark Landmark, The Business Lawyer Vol. 76, 2020–2021, pp. 1–29.
Google Scholar
Preview
Table of Contents
Section Title | Page | Action | Price |
---|---|---|---|
Asaf Eckstein and Gideon Parchomovsky: Rethinking Oversight Duties and Responsibilities in Conglomerates | 425 | ||
I. Introduction | 425 | ||
II. Conglomerates | 426 | ||
1. A Parent's Liability for a Subsidiary's Misdeeds | 428 | ||
2. The Duty of Oversight | 434 | ||
3. Rethinking Oversight Duties and Responsibilities in Conglomerates | 438 | ||
III. Conclusion | 440 | ||
Bibliography | 441 |