Abstract

http://ssrn.com/abstract=1628618
 


 



Crisis, Rescue and Corporate Social Responsibility Under American Corporate Law


Robert J. Rhee


University of Maryland - Francis King Carey School of Law; University of Florida Levin College of Law

2010

REFRAMING CORPORATE SOCIAL RESPONSIBILITY: LESSONS FROM THE GLOBAL FINANCIAL CRISIS, William Sun et al. eds., Emerald Group Publishing, UK, 2010
U of Maryland Legal Studies Research Paper No. 2010-26

Abstract:     
This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board’s fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American corporate law adequately provides corporate boards authority to assume broad principles of corporate social responsibility, and that during a public crisis this authority is specially recognized in the enabling statutes of corporate law and should be broadened even further to pursue the public good in exigent circumstances.

Keywords: crisis, rescue, 122(12), bank of american, merrill lynch, fiduciary exemption

JEL Classification: l2, l20, l21, K2, K22, M1, M14

Accepted Paper Series


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Date posted: June 24, 2010 ; Last revised: July 8, 2010

Suggested Citation

Rhee, Robert J., Crisis, Rescue and Corporate Social Responsibility Under American Corporate Law (2010). REFRAMING CORPORATE SOCIAL RESPONSIBILITY: LESSONS FROM THE GLOBAL FINANCIAL CRISIS, William Sun et al. eds., Emerald Group Publishing, UK, 2010; U of Maryland Legal Studies Research Paper No. 2010-26. Available at SSRN: http://ssrn.com/abstract=1628618

Contact Information

Robert J. Rhee (Contact Author)
University of Maryland - Francis King Carey School of Law ( email )
500 West Baltimore Street
Baltimore, MD 21201-1786
United States
HOME PAGE: http://www.law.umaryland.edu/faculty_profile.asp?facultynum=539
University of Florida Levin College of Law ( email )
Gainesville, FL 32610-0496
United States
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