University of Pennsylvania Law Review · 2001 · 10 citations · 0 references
LawCorporate GovernanceCorporate LawCompany LawComparative Corporate LawCorporate LitigationCorporate Decision-makingCorporate Governance MechanismsCompany Law ReformCorporate AuthorityCorporate Governance Duties
Yesterday I had the honor to give the keynote address in Stockholm, Sweden, to the Organization for Economic Cooperation and Development ("OECD").Some of what was discussed there is relevant here.At the OECD Conference, all European countries and many other countries around the world were represented in a kind of United Nations setting.The conferees were exchanging ideas on issues of company law reform.One theme emerged as dominant: Many conferees were yearning for a judicial system like the well-developed system ofjudge-made fiduciary duty law we have in Delaware.They all seemed to believe our system works well, even with all its warts.They were amazed by, and envious of, our expertise, fact-specificity, and the speed of our decisions.But they seemed to be resigned to the reality that theirjudicial systems were not set up to replicate Delaware's.I.