Redefining the Fiduciary Duties of Corporate Directors in Accordance with the Team Production Model of Corporate Governance

20 Pages Posted: 27 Oct 2016

See all articles by Gregory S. Crespi

Gregory S. Crespi

Southern Methodist University - Dedman School of Law

Date Written: 2003

Abstract

This article considers the "team production model" (TPM) of corporate governance set forth and elaborated upon by Margaret Blair and Lynn Stout. The author initially addresses how the locus of fiduciary duties should be respecified to be consistent with the TPM framework of corporate governance, should that paradigm be determined to be a descriptively more accurate model of public corporations than is the conventional agency mode, and then reviews the relatively complex calculations that would have to be carried out to determine how the performance of a TPM-style corporate board of directors measures up against these respecified fiduciary duties. Finally, the author discusses what practical significance of embracing the TPM by the courts as well as their subsequent respecification of the fiduciary duty standards to be consistent with this model, would have for corporate governance.

Keywords: corporate governance, fiduciary duties, team production model, TPM

Suggested Citation

Crespi, Gregory S., Redefining the Fiduciary Duties of Corporate Directors in Accordance with the Team Production Model of Corporate Governance (2003). Creighton Law Review, Vol. 36, No. 4, 2003, SMU Dedman School of Law Legal Studies Research Paper No. 334, Available at SSRN: https://ssrn.com/abstract=2859649

Gregory S. Crespi (Contact Author)

Southern Methodist University - Dedman School of Law ( email )

P.O. Box 750116
Dallas, TX 75275
United States

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