1997 Business Roundtable statement on corporate governance
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The 1997 Business Roundtable statement on corporate governance was a widely cited declaration by leading U.S. CEOs that endorsed a shareholder-centric model of corporate purpose and responsibilities.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
Business Roundtable statement
ⓘ
corporate governance policy statement ⓘ |
| associatedWith |
Fortune 500 CEOs
NERFINISHED
ⓘ
U.S. business lobby organizations ⓘ |
| author | Business Roundtable NERFINISHED ⓘ |
| citedBy |
business ethics scholarship
ⓘ
corporate law scholarship ⓘ policy reports on corporate governance ⓘ |
| context | post-1980s corporate governance reforms in the United States ⓘ |
| contrastsWith | stakeholder model of corporate governance ⓘ |
| countryOfOrigin |
United States of America
ⓘ
surface form:
United States
|
| describedAs | widely cited declaration by leading U.S. CEOs ⓘ |
| emphasizes |
board accountability to shareholders
ⓘ
effective oversight of management ⓘ importance of independent directors ⓘ long-term shareholder value creation ⓘ maximization of shareholder value ⓘ transparency to shareholders ⓘ |
| endorsesModel | shareholder-centric model of the corporation ⓘ |
| focusesOn | publicly traded corporations ⓘ |
| followedBy | 2019 Business Roundtable Statement on the Purpose of a Corporation NERFINISHED ⓘ |
| hasPerspective | shareholder-centric view of corporate responsibilities ⓘ |
| historicalSignificance | canonical expression of shareholder primacy in late 20th-century U.S. corporate governance ⓘ |
| influenced |
U.S. corporate governance debates in the late 1990s
ⓘ
board governance practices in large U.S. corporations ⓘ |
| influencedBy |
U.S. corporate law norms of the 1980s and 1990s
ⓘ
shareholder value ideology ⓘ |
| jurisdiction | United States corporate sector ⓘ |
| language | English ⓘ |
| mainSubject |
board of directors responsibilities
ⓘ
corporate governance ⓘ corporate purpose ⓘ shareholder primacy ⓘ shareholder rights ⓘ |
| publicationYear | 1997 ⓘ |
| publisher | Business Roundtable NERFINISHED ⓘ |
| recognizes |
importance of fair disclosure to shareholders
ⓘ
importance of legal and ethical compliance ⓘ |
| roleIn | benchmark for shareholder primacy in U.S. corporate governance ⓘ |
| sector | large U.S. corporations ⓘ |
| states |
that directors are accountable to shareholders
ⓘ
that the principal objective of a corporation is to generate economic returns to its owners ⓘ |
| targetAudience |
chief executive officers
ⓘ
corporate boards of directors ⓘ institutional investors ⓘ |
| typeOfDocument | non-binding policy statement ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
2019 Statement on the Purpose of a Corporation
→
predecessor
→
1997 Business Roundtable statement on corporate governance
ⓘ