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Enforcement of Actions in Corporate Law by Non-Shareholder Constituencies

Lessons for the Common Law World from South Africa

Tshepo Herbert Mongalo

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Hardback

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English
Lexington Books/Fortress Academic
15 January 2025
Enforcement of Actions in Corporate Law by Non-Shareholder Constituencies: Lessons for the Common Law World from South Africa advocates for a complementary enforcement regime for the current (and proposed) corporate legislative measures in the Anglo-American corporate law. Doing so would empower non-shareholder interests in corporate decision-making. Mongalo argues that corporate legislative initiatives ought to provide for non-shareholder constituencies’ considerations in decision-making within corporate entities, and that failure to enforce such frameworks reduces the law to lip service. By offering a comprehensive critique of corporate constituency statutes and benefit corporation statutes in US and the enlightened shareholder value approach in the UK, Mongalo makes the case that a shift from the current enforcement philosophy in Anglo-American jurisdictions—which is based on the preference of those to whom fiduciary duties are currently owed—is necessary and that the Actionable Enlightened Shareholder Value (AESVA), with its origins in South Africa, should be preferred.
By:  
Imprint:   Lexington Books/Fortress Academic
Country of Publication:   United States
Dimensions:   Height: 229mm,  Width: 152mm, 
Weight:   576g
ISBN:   9781666922585
ISBN 10:   1666922587
Pages:   292
Publication Date:  
Audience:   Professional and scholarly ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active
Chapter 1: Theoretical Foundation Chapter 2: Comparative Analysis Chapter 3: The Legal Basis for Protection of Company’s Legal Interests Chapter 4: The Enforcement Framework under the 2008 Companies Act

Tshepo Herbert Mongalo is professor of corporate law at the University of the Witwatersrand’s School of Law.

Reviews for Enforcement of Actions in Corporate Law by Non-Shareholder Constituencies: Lessons for the Common Law World from South Africa

This work offers a powerful critique of the traditional shareholder-focused corporate law that has long dominated the US and UK. It challenges the exclusion of key stakeholdersmdash;employees, creditors, and communitiesmdash;from corporate decision-making. Through a comparative lens, it highlights South Africarsquo;s 2008 Companies Act as a beacon of progress, offering a more inclusive legal framework that empowers non-shareholder voices. This work calls for a bold reimagining of corporate law, one that balances profit with purpose, and champions a future where all stakeholders are heard, valued, and protected.--Darren Subramanien, University of KwaZulu-Natal


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