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The Rules Governing the Relationships Among a Company’s Stakeholders: Company Law

In: Econo-Legal Studies

Author

Listed:
  • Motohiro Sakaki

    (Kobe University)

  • Hidefusa Iida

    (University of Tokyo)

Abstract

It is important and interesting to analyze company law from the perspective of both fairness and efficiency. The challenge of company law is to provide rules that reasonably reconcile the interests among the stakeholders: shareholders, directors, and creditors. In designing better legal rules, we must know what interests each stakeholder has and how the behavior of each stakeholder will change under different rules. The tools of economics can be of great help in analyzing this point. Economic analysis may cast doubt on the explanations that have traditionally been believed to be correct by legal scholars and reveal functions of company law that have been overlooked. The purpose of this chapter is to make the reader realize the above by analyzing a conflict of interests, a situation in which the interests of the parties involved are in sharp conflict.

Suggested Citation

  • Motohiro Sakaki & Hidefusa Iida, 2021. "The Rules Governing the Relationships Among a Company’s Stakeholders: Company Law," Springer Books, in: Takashi Yanagawa & Hiroshi Takahashi & Shinya Ouchi (ed.), Econo-Legal Studies, chapter 0, pages 45-70, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-5145-8_3
    DOI: 10.1007/978-981-16-5145-8_3
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