55 Pages Posted: 31 Jul 2006
Achieving the Double Bottom Line: A Framework for Corporations Seeking to Deliver Profits and Public Services argues that many people who object to for-profit corporations that deliver public services, such as kindergarten through 12th grade education or foster care, have greatly exaggerated the extent to which the for-profit regime will compel such corporations to subordinate the delivery of those services to financial considerations. Because of this over-exaggeration, these opponents have not focused on designing a framework that would assist these entities in meeting their double bottom lineachieving profit for their shareholders while also delivering a high quality public service. The Article seeks to remedy this failure. The Article therefore proposes that double bottom line corporations be required to have an independent committee, similar to the audit committee, which would focus not on financial issues, but rather on issues pertaining to the attainment of the entities' public goals. By providing for both committees within the corporate framework, this proposal makes it more likely that double bottom line corporations actually achieve their dual objectives.
Keywords: double bottom line, corporations, for-profit corporations
Suggested Citation: Suggested Citation
Fairfax, Lisa M., Achieving the Double Bottom Line: A Framework for Corporate Seeking to Delivery Profits and Public Services. Stanford Journal of Law, Business and Finance, Vol. 9, p. 199, 2004; U of Maryland Legal Studies Research Paper No. 921042. Available at SSRN: https://ssrn.com/abstract=921042