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Recognition of various stakeholder interests in company management

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dc.contributor.advisor Havenga, M.K. en
dc.contributor.author Esser, Irene-Marié en
dc.date.accessioned 2009-08-25T11:02:09Z
dc.date.available 2009-08-25T11:02:09Z
dc.date.issued 2008-06
dc.date.submitted 2008-06-30 en
dc.identifier.uri http://hdl.handle.net/10500/2277
dc.description.abstract Good corporate governance should be the cornerstone of all company management. Directors ought to know in whose interests the company should be managed. This thesis attempts to answer the following question: whose interests must be granted primacy in the management of a company? In chapter 1 it is stated that shareholders' interests are traditionally granted primacy in the management of a company. There has, however, been a shift in public opinion towards recognition of a wider variety of interests that should be considered than only those of the shareholders. These interests include, inter alia, environmental interests and those of the investors, employees and consumers. This thesis thus focuses on the primary stakeholders, namely individual shareholders, creditors, employees, consumers and suppliers. In chapter 2 a theoretical foundation is provided on the nature of a company. The different theories on the nature of a company, emphasising either shareholder primacy or stakeholder protection, are discussed. A combined new theory is proposed. It is suggested that the confusion relating to the meaning of "the company" needs to be eliminated. Chapters 3, 4 and 5 provide an international comparison of the company law in Botswana, Australia, New Zealand and the United Kingdom. The focus falls, firstly, on directors' duties, secondly, on the question in whose interests directors should manage a company and, thirdly, on the codification of their duties. In chapter 6 the South African position is evaluated. First, the possible stakeholders are identified and the protection currently afforded them is explained. The reports of the King Committee on Corporate Governance, the Policy Document on company law reform as well as the Companies Bill of 2007 are discussed. Draft clauses are recommended to be incorporated in new company legislation to provide directors with clarity on what is expected of them. It is the aim of this thesis to provide clarity on whose interests should receive primacy when directors manage a company. The outcome of this research should provide a clear indication to South African directors of what is expected of them and who the beneficiaries of their fiduciary duties are. en
dc.format.extent 1 online resource (xi, 392 p.)
dc.language.iso en en
dc.subject Codes of best practice en
dc.subject Codification en
dc.subject Consumers en
dc.subject Creditors en
dc.subject Directors en
dc.subject Directors' duties en
dc.subject Employees en
dc.subject Shareholder value en
dc.subject Shareholders en
dc.subject Stakeholder model en
dc.subject Stakeholders en
dc.subject Triple-bottom line en
dc.subject.ddc 346.66068
dc.subject.lcsh Directors of corporations -- Legal status, laws, etc. -- South Africa
dc.subject.lcsh Stockholders -- Legal status, laws, etc. -- South Africa
dc.subject.lcsh Corporate governance -- Law and legislation -- South Africa
dc.subject.lcsh Corporation law -- South Africa
dc.subject.lcsh Social responsibility of business -- South Africa
dc.title Recognition of various stakeholder interests in company management en
dc.type Thesis en
dc.description.department Law en
dc.description.degree LL.D. en


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