The recent widespread corporate scandals and failures had their root in dishonest management decisions and, in some cases, outright cover-ups of illicit activities and, has brought to the fore the role, which the pursuit of narrow group interests played in wrecking these corporations and, consequently, the lives of millions of innocent citizens who had a stake in them.
In particular, these developments have further raised the question of the responsibilities of the Board of Directors in ensuring that an appropriate balance is maintained between stakeholders’ interests.