Corporate governance, financial institutions and the "social licence". Issue 3 (2nd July 2016)

• Record Type: Journal Article
• Authors: Hanrahan, Pamela
• Is Part Of: Law and financial markets review. Volume 10:Issue 3(2016)
• Page Start: 123
• Page End: 126
• Publication Date: 2016-07-02
• Subjects: Finance -- Law and legislation -- Periodicals; Finance -- Periodicals; 346.0905
• DOI: 10.1080/17521440.2016.1243878
• Languages: English
• ISSNs: 1752-1440

Abstract

Abstract : Financial institutions owe a range of obligations – legal and regulatory, contractual, and non-legal – to their shareholders, their other stakeholders and, arguably, to the public good. Understanding the nature and intensity of those obligations, and the role of boards in balancing and reconciling them, is a key concern of corporate governance. Recent discussions about the need for financial sector entities to earn and maintain a social licence to operate suggest a new way of framing discussions about these obligations.