Beyond the shareholder corporation: Alternative business forms and the contestation of markets

Nina Boeger*

*Corresponding author for this work

Research output: Contribution to journalArticle (Academic Journal)peer-review

406 Downloads (Pure)

Abstract

This article considers various, established and emerging, alternative business forms that differ categorically from the traditional corporation in terms of their governance, objectives, and/or ownership structures, including mission-led businesses, social enterprises, cooperatives, and co-owned firms. Notwithstanding their considerable diversity, the underpinning pattern of these alternatives points towards a stakeholder model of corporate governance that commits the firm to generating value by maximizing the positive impact on its (internal and external) stakeholders while limiting negative impacts, with trade-offs carefully balanced against each other. Through these commitments, the firm internalizes a process of democratic contestation: a procedure to mediate the different interests of these market actors is incorporated directly into the structure of the firm, through procedural mechanisms embedded within its internal constitution.

Original languageEnglish
Pages (from-to)10-28
Number of pages19
JournalJournal of Law and Society
Volume45
Issue number1
Early online date9 Feb 2018
DOIs
Publication statusPublished - 1 Mar 2018

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