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Publication Type
Conference Proceedings
UWI Author(s)
Author, Analytic
McKoy, Derrick
Author Role
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Author Affiliation
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Paper/Section Title
Common sense and sensibility: Seeking new values for the innovative corporation
Medium Designator
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Editor/Compiler
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Editor/Compiler Role
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Proceedings Title
Keynote Lecture, St Kitts-Nevis- Anguilla National Bank Annual Compliance Conference
Date of Meeting
July 9, 2011
Place of Meeting
Basseterre, St Kitts
Place of Publication
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Publisher Name
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Date of Publication
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Date of Copyright
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Volume ID
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Location in Work
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Extent of Work
10 p
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Series Editor
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Series Editor Role
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Series Title
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Series Volume ID
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Location/URL
file:; /C:/Users/10009738/Downloads/SSRN-id2028780..pdf
ISBN
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Notes
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Abstract
We have got in the habit of thinking of corporate governance as a collection of rules and it is very easy to become seduced by this rule oriented approach. However, this mechanical approach should not distract us from the reality that a corporate governance regime should seek to address and realise some critical operational objectives. Stakeholder theory can help, but it cannot tell us with precision who are or should be stakeholders. The Johnson & Johnson Credo may be helpful because it set out a hierarchy of the company’s stake holding. While we should be careful not to build general theories on limited studies, the indication is that some of the assumptions we have made about the value stakeholders of the modern corporation, such as the relative value of its executives, may have been exaggerated. New opportunities are being presented to the innovative corporation to rethink the relative ranking of its corporate stakeholders.....
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Keywords