| Budget Amount *help |
¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2014: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2013: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2012: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Outline of Final Research Achievements |
This project analyzed a variety of legal problems about compliance of companies to explain the relationship between maximizing shareholder value standard and the duty to comply law. My research leads the efficiency standard behind the maximizing shareholder value has limitations to be applied to a variety of situations. Legal discourse form behind the duty of compliance supplies the tentative but convincing conclusion where the efficiency standard fails to lead any conclusion. Therefore, the efficiency standard's field is divided from one to be applied the legal discourse. That means the shareholder value maximization standard cannot be applied to the duty of compliance in applying the relationship to the liability of the companies’ directors.
This can influence the legal disputes in concrete form. Business judgment rule is justified to maximize the companies’ value, under the efficiency standards. Therefore, business judgment rule cannot be applied to the duty of compliance.
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