Management renewal? Consequences of the new conception of the “best interests of the corporation” in North American and French Corporate Law

Corporate law integrates a stakeholder conception through the comprehensive meaning of the best interests of the corporation. In this paper, I address criticisms about classical definition of the firm’s purpose. Even if American law is more discreet and uncertain, it is possible to defend a broad conception of the best interests of the corporation. The interests of Canadian and French firms include their partners. While the notion of intérêt social is debatable in France, Canada has recently modified its point of view regarding the purpose of the firm. Indeed, the decision of the Supreme Court of Canada Magasins à rayons Peoples Inc. (Syndic de) v. Wise in 2004 changed the concept of corporate law. With respect to fiduciary duties, the Supreme Court set aside the traditional interpretation of the “best interests of the corporation” which gave primacy to shareholders’ interests. The Court held that the expression “best interests of the corporation” refers to the maximization of the corporation’s value. This innovative vision of the best interest of the corporation introduces stakeholder theory and corporate social responsibility (CSR) into corporate law and provides a new field for the firm’s management to frame their responsibilities. This paper concludes with an extended discussion of the implications of stakeholder and CSR influence for the future of corporate law, economy and financial researches.

In vitro and in vivo virulence evaluation of the new genotype of porcine circovirus type 2 and identification of a new cell line permissive to virus replication

Mémoire numérisé par la Division de la gestion de documents et des archives de l'Université de Montréal

The New Global Politics of Poverty

In recent years, governments, international institutions, and a broad array of social movements have converged around what an OECD report has described as an emerging “global anti-poverty consensus.” This new global social policy agenda has changed the terms of the debate between the left and the right, and redefined the world of policy possibilities, in global but also in domestic politics. This article proposes a constructivist interpretation of this multi-scale shift in discourse, and discusses the political and policy implications of the new global politics of poverty.