Competitiveness with Self-Regulation

40 Pages Posted: 7 Dec 1997

See all articles by Shann Turnbull

Shann Turnbull

International Institute for Self-Governance; Sustainable Money Working Group; New Garden City Alliance

Date Written: November 1997

Abstract

This paper identifies why US, UK and Australian corporations do not allow directors to avoid conflicts of self-interest, and why corporations lack self-regulation. To avoid conflicts of self-interest, a separation of powers is required to create a compound board. Directors cannot fulfil their duty to monitor and evaluate management with information independent of management unless they obtain advice from advisory councils independently appointed by employees, customers and suppliers. Cybernetic laws show why government regulation cannot be effective, and how compound boards can introduce self-regulation with competitive advantages to simplify the law and reduce the size and costs of government.

JEL Classification: G32, K22

Suggested Citation

Turnbull, Shann, Competitiveness with Self-Regulation (November 1997). Available at SSRN: https://ssrn.com/abstract=45321 or http://dx.doi.org/10.2139/ssrn.45321

Shann Turnbull (Contact Author)

International Institute for Self-Governance ( email )

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HOME PAGE: http://independent.academia.edu/ShannTurnbull/CurriculumVitae
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