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|Title:||Negotiating the minefields of corporate vote-buying|
|Authors:||Lan, L.L. |
|Citation:||Lan, L.L., Heracleous, L. (2007). Negotiating the minefields of corporate vote-buying. Corporate Governance 15 (5) : 969-978. ScholarBank@NUS Repository. https://doi.org/10.1111/j.1467-8683.2007.00616.x|
|Abstract:||Corporate vote-buying has received significant attention in the last decade, in several legal cases that illustrate the fine line between legitimate use of vote harnessing as a useful corporate strategic tool on one hand, and its negative connotations as a potential instrument of fraud that attempts to disfranchise shareholders on the other hand. After a brief outline of the legal history of corporate vote-buying and the rationale for the courts' vigilance on this practice, in both the United States and the United Kingdom, we outline some strategic reasons for vote-buying that might make it a useful option in certain circumstances. Lastly we discuss key principles that a board of directors should bear in mind when engaging in corporate vote-buying, so that it can employ the practice productively and legitimately, keeping in mind shareholders' best interests and avoiding potentially costly and destructive legal challenges. © 2007 Blackwell Publishing Ltd.|
|Source Title:||Corporate Governance|
|Appears in Collections:||Staff Publications|
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