548 research outputs found
Transnational Private Regulatory Governance: Ambiguities of Public Authority and Private Power
The continuing proliferation of transnational private regulatory governance challenges conceptions of legal authority, legitimacy and public regulation of economic activity. The transnational law merchant or, lex mercatoria, is a case in point in this context, as it represents a laboratory for the exploration of âprivateâ contractual governance in a context, in which the assertion of public or private authority has itself become contentious. The ambiguity surrounding many forms of todayâs contractual governance in the transnational arena echoes that of the far-reaching transformation of public regulatory governance, which has been characteristic of Western welfare states over the last few decades. What is particularly remarkable, however, is the way in which the depictions of âprivate instrumentsâ and âpublic interestsâ in the post-welfare state regulatory environment have given rise to a rise in importance of social norms, self-regulation and a general anti-state affect in the assessment of judicial enforcement or administration of contractual arrangements. The paper suggests the need to short-circuit and to read in parallel the justifications offered for a contractual governance model, which prioritizes and seeks to insulate âprivateâ arrangements from their embeddedness in regulated market contexts, on both the national and transnational level
Beyond Territoriality: The Case of Transnational Human Rights Litigation
Cases for civil damages that have been brought before Western courts by victims of torture and persecution against states officials or corporations, challenge the principles of state sovereignty and jurisdictional competence. While national courts can in cases of serious crimes hear cases that grow out of acts committed in another country, the same is not true for cases for civil compensation. A persisting and rising number of private law cases that attempts to empower disenfranchised victims of crime and abuse, points to the necessity of reconsidering the prevailing procedural and substantial obstacles that govern the so-far unsuccessful civil law suits. The law of transnational civil litigation [TCL] emerged with the US American decision in Filartiga in 1980 and perhaps culminated in the US Supreme Court's Decision in Sosa v. Alvarez-Machain in 2004. TCL has become a laboratory for our inquiry into the relationship between laws that were developed within and for the nation-state on the one hand and an increasingly globalized political and legal human rights discourse, on the other. As such, TCL is a case in point for the dramatically changing nature of norm-creation, law, and law enforcement in an era of globalization.law; fundamental/human rights; sovereignty; globalization
The Evolution of the Corporation: Organization, Finance, Knowledge and Corporate Social Responsibility
This paper, which selectively focuses on the contested concept of Corporate Social Responsibility [CSR], forms part of a larger research project on the evolution of corporate governance. This research posits the evolution of corporate governance along three historical paradigms: first, the economic/industrial organization paradigm, second, the financial paradigm, and third, the knowledge paradigm. With regard to CSR, the paper explores the promises and shortcomings of the concept against the background of an evolutionary theory of corporate governance. The identification of three historical-conceptual paradigms allows us to trace the development of the relation between a general discourse on corporate governance regulation [CGR] on the one hand and a more specialized, often polemic debate over corporate (social, environmental, human rights) responsibilities on the other. On the basis of the review of the three paradigms of CSR over the course of more than one hundred years, the paper concludes that there is no convincing justification to separate the general Corporate Governance from the more specific CSR discourse when assessing the nature of the corporation. Instead, it is argued that a more adequate understanding of what defines a corporation is gained when capturing its embedded nature in a continuously changing domestic, global and functional environment. Besides being both a legal fiction and an economic actor, the business corporation is assuming a host of other roles in a functionally differentiated global society. The paper suggests that the generation and dissemination of knowledge, both internally and externally, has become the defining feature of the firm. The corporation as a knowledge actor succeeds the prior stages of assessing it as a private, political or financial actor, without however erasing these dimensions of the firm. In that, the history of the corporation - as concept and reality - shares important features with that of the state - as concept and as fact.corporate social responsibility, corporate governance, financialisation, economic sociology, knowledge society, uncertainty, risk, management
Alienating justice: on the social surplus value of the twelfth camel
Deutsche Fassung: Rechtsentfremdungen: Zum gesellschaftlichen Mehrwert des zwölften Kamels. Zeitschrift fĂŒr Rechtssoziologie 21, 2000, 189-215 und in Gunther Teubner (Hg.) Die RĂŒckgabe des zwölften Kamels: Niklas Luhmann in der Diskussion ĂŒber Gerechtigkeit. Lucius & Lucius, Stuttgart 2000, 189-215. Französische Fassung: Les multiples aliĂ©nations du droit : Sur la plus-value sociale du douziĂšme chameau. Droit et SociĂ©tĂ© 47, 2001, 75-100. Polnische Fassung: Sprawiedliwosc alienujaca : O dodatkowej wartosci dwunastego wielblada. Ius et Lex 1, 2002, 109-132. Italienische Fassung: Le molteplici alienazioni del diritto : Sul plusvalore sociale del dodicesimo camello. In: Annamaria Rufino und Gunther Teubner, Il diritto possibile: Funzioni e prospettive del medium giuridico. Guerini, Milano, 2005, 93-130
Law after the welfare state: formalism, functionalism and the ironic turn of reflexive law
This paper analyzes the contemporary emergence of neo-formalist and neo-functionalist approaches to law-making at a time when the state is seeking to reassert, reformulate and reconceptualize its regulatory competence, both domestically and transnationally. While the earlier turn to alternative regulation modes, conceptualized under the heading of legal pluralism, responsive law, or reflexive law in the 1970s and 1980s, had aimed at a more socially responsive, contextualized, and ultimately learning mode of legal intervention, the contemporary revival of functionalist jurisprudence and its reliance on social norms embraces a limitation model of legal regulation. After revisiting the Legal Realist critique of Formalism and the formulation of functionalist regulation as a progressive agenda, this paper reflects on both the American and German justifications of market regulation and the Welfare State in order to trace the different evolution towards responsive law and legal pluralism in the U.S. and post-interventionist and reflexive law in Germany. This comparison allows for an identification of the emerging transnational qualities of legal normativity in the face of a declining welfare state paradigm, which - at the beginning of the 21st century - appears to provide the stage for turning the progressive gains of the former era into a set of market-oriented justifications of private autonomy and de-regulation. - Der Aufsatz rekonstruiert die wechselhafte Geschichte des Rechts nach dem Wohlfahrtsstaat. Nachdem die Krise des Wohlfahrtsstaats in den 1970er Jahren vornehmlich als eine Frage der Regulierungs- und Steuerungskrise wahrgenommen wurde, traten responsive und reflexive Rechtstheorien gleichzeitig als Erben und Zerstörer des Rechts als Steuerungsmittel auf. Die Suche nach Alternativen zum Recht in den USA wie auch in Deutschland mĂŒndete aber schon bald in eine weitreichende Privatisierungs- und Deregulierungsbewegung. Die sich schon lange ankĂŒndigende Skepsis nicht nur gegenĂŒber parlamentarischer Gesetzgebung, sondern auch gerichtlicher Rechts(fort)bildung im Namen der SelbstregulierungskrĂ€fte der Privatrechtsgesellschaft durch den Markt und social norms verstĂ€rkte diese Kritik am Staat diesseits und jenseits des Atlantik. Der Aufsatz geht vor diesem Hintergrund der Frage nach, inwiefern die gegenwĂ€rtige Betonung gesellschaftlicher Selbstregulierung die Kritik der Rechtsrealisten und der frĂŒhen Rechtssoziologie am Rechtsformalismus aufgreift, nur um sie im Namen von Marktfreiheiten zu verkĂŒrzen und ihres kritischen Potentials beraubt. --
Varieties of Capitalism and the Learning Firm: Corporate Governance and Labour in the Context of Contemporary Developments in European and German Company Law
Research in corporate governance and in labour law has been characterized by a disjuncture in the way that scholars in each field are addressing organizational questions related to the business enterprise. While labour has eventually begun to shift perspectives from aspirations to direct employee involvement in firm management, as has been the case in Germany, to a combination of 'exit' and 'voice' strategies involving pension fund management and securities litigation, it remains to be seen whether this new stream will unfold as a viable challenge to an otherwise exclusionary shareholder value paradigm. At the same time, recent suggestions made by Delaware Chancery Court Vice Chancellor Strine, to dare think about potentially shared commitments between management and labour - and UCLA's Stephen Bainbridge's response - underline the viability - and, the contestedness - of attempts at moving the corporate governance debate beyond the confines of corporate law proper. While such a wider view had already famously been encouraged by Dean Clarke in his 1986 treatise on Corporate Law (p. 32), mainstream corporate law does not seem to have endorsed this perspective. This paper takes the questionable divide between management and labour within the framework of a limiting corporate governance concept as starting point to explore the institutional dynamics of the corporation, hereby building on the theory of the innovative enterprise, as developed by management theorists Mary O'Sullivan and William Lazonick. Largely due to the sustained distance between corporate and labour law scholars, neither group has effectively addressed their common blind spot: a better understanding of the business enterprise itself. In midst of an unceasing flow of affirmations of the finance paradigm of the corporation on the one hand and 'voice' strategies by labour on the other, it seems to fall to management theorists to draw lessons from the continuing co-existence of different forms of market organization, in which companies appear to thrive. Exploring the conundrum of 'risky' business decisions within the firm, management theorists have been arguing for the need to adopt a more sophisticated organizational perspective on companies operating on locally, regionally and transnationally shaped, often highly volatile market segments. Research by comparative political economists has revealed a high degree of connectivity between corporate governance and economic performance without, however, arriving at such favourable results only for shareholder value regimes. Such findings support the view that corporate governance regimes are embedded in differently shaped regulatory frameworks, characterized by distinct institutions, both formal and informal, and enforcement processes. As a result of these findings, arguments to disassociate issues of corporate governance from those of the firm's (social) responsibility [CSR] have been losing ground. Instead, CSR can be taken to be an essential part of understanding a particular business enterprise. It is the merging of a comparative political economy perspective on the corporation with one on the organizational features, structures and processes of the corporation, which can help us better understand the distribution of power and knowledge within the 'learning firm'.Corporate Governance, organizational theory, innovative enterprise, learning firm, employee involvement, corporate social responsibility, European/German corporate governance
The Parallel Worlds of Corporate Governance and Labor Law
This paper engages the concept of transnational law (TL) in a way that goes beyond the by now accustomed usages with regard to the development of legal norms and the observation of legal action across nation-state boundaries, involving both state and nonstate actors. The concept of TL can serve to illustrate much further-reaching set of developments in norm creation and legal regulation. TL is here understood not only as a body of legal norms, but it is also employed as a methodological approach to illustrate common and shared challenges and responses to legal regulatory systems worldwide. In the case of corporate governance, TL captures the specific regulatory mix of formal, hard, public regulation, on the one hand, and of informal, soft, private regulation, on the other that characterizes the contemporary evolution of corporate governance norms. Corporate governance norms give testimony of an ongoing search for answers to persisting problems in the organization of the firm, the distribution of power between shareholders, stakeholders, and the firm, as well as the responsibility of the corporation to its environment while-at the same time-reflecting on fundamental changes of the nature of norm creation and legal interpretation. While this approach is likely already to undermine some of the contentions regarding a universalconvergence of corporate governance systems towards an outsider-control, shareholdervalue- maximization model at the end of history of corporate law, its risks lie in the misappropriation of the described processes of private ordering as processes of natural evolution. After all, the shift away from formal law making to processes of societal self-regulation-as reflected in the rise of corporate governance codes, standards, best practices o1; in the area of labor law, of codes of conduct and core labor rights-might turn out to be a less fortunate answer to the redistributive and participatory questions that are posed when one views corporate governance in the context of a larger set of welfare state norms, comprising not only company law and securities regulation, but also labor and employment law, industrial relations, and insolvency law. Eventually, a careful study of the transformation of the process of law making and rule enforcement suggests the necessity of taking a broader view on corporate governance than is often the case. Seen against the background of a globalization of economic activity, capital flows, and the erosion of many protective norms and rights-in particular in the area of labor law--the study of transnational corporate governance can contribute to a better understanding of the regulatory challenges of a globalized market economy.
Globalization and the New Politics of Labor, Symposium. Indiana University School of Law-Bloomington, February 11-12, 2005
The Conundrum of Corporate Social Responsibility: Reflections on the Changing Nature of Firms and States
The Trail Smelter Arbitrations of 1938 and 1941 still figure as landmark cases in International Environmental law, despite the fact that the debate continues what lessons ought best to be drawn from these proceedings. In the context of contemporary work in the area of transnational corporate activity, wrongful corporate behaviour such as environmental harm or human rights abuses, Trail Smelter can serve as a starting point for the study of effective regulation of trans-territorialized conduct of private actors. The paper highlights the challenges faced by both the persisting attempts to sue multinational corporations before domestic courts and those hoping for efficient outcomes resulting from corporate self-regulation, predominantly under the heading of corporate social responsibility (CSR). The paper places both discussions against the background of an emerging transnational law of corporate regulation, which is characterized by a mixture of domestic and international, public and private regulatory instruments. It is against this background that the lessons from Trail Smelter for the regulation of corporate conduct must be drawn with respect to the transformation of state regulation and the increasing reliance on private self-regulation
Transnational Legal Pluralism
This paper draws out the analogies and connections between long-standing legal sociological insights into pluralistic legal orders and present concerns with the fragmentation of law outside of the nation state. Within the nation-state, the discovery of legal pluralism inspired a larger contestation of concepts of legal formalism, of the alleged unity of the legal order and of the hierarchy of norms against the background of a consistently advancing process of constitutionalization. This research heightened regulatorsâ sensitivity to blind spots and exclusionary dynamics in the design of rights, leading inter alia to wide-ranging efforts to render more effective access to justice, legal aid and legal representation. Another important consequence concerned an increased awareness of different levels and sites of norm-creation in various societal areas. Much of this is mirrored by todayâs quest for a just, democratic and equitable global legal order, for example in the debate about âfragmentation of international lawâ or âglobal administrative lawâ. But, while the legal pluralism debate largely unfolded in the context (and contestation) of relatively mature legal orders and institutions, such institutional frameworks and safeguards are largely absent on the international plane. As a result, the emergence of numerous norm-setting agencies, specialized courts and tribunals and regulatory networks are perceived as obstacles or impediments to the creation of a sound legal order on a global scale, rather than as inherent traits of an evolving legal order.In order to grasp the increasingly transterritorial nature of regulatory governance it is necessary to revisit the arguments in support of legal pluralism and, in particular, the legal pluralist critique of the association of law with the state. On that basis, it becomes possible to read the currently dominant narrative of the âend of lawâ in an era of globalisation in a different light. Rather than describing the advent of globalisation as an end-point of legal development, the transnational perspective seeks to deconstruct the various law-state associations by understanding the evolution of law in relation and response to the development of âworld societyâ. The currently lamented lack of democratic accountability, say, in international economic governance, can then be perceived as a further consequence in a highly differentiated and de-territorialized society. The paper thus rejects the attempts by lawyers to re-align transnational governance actors with traditional concepts of the state or of civil society and, instead, contrasts them with various advances in sociology and anthropology with regard to the evolution of âsocial normsâ and âspacesâ of governance and regulation. These perspectives effectively challenge present attempts to conceptualize a hierarchically structured global legal order. This articleâs proposed concept of âtransnational legal pluralismâ [TLP] goes beyond Philip Jessupâs 1956 idea of âtransnational lawâ, through which he sought to both complement and challenge Public and Private International Law. TLP brings together insights from legal sociology and legal theory with research on global justice, ethics and regulatory governance to illustrate the transnational nature of law and regulation, always pushing against the various claims to legal unity and hierarchy made over time
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