Zhao, Jingchen and Wen, Shuangge (2013) The legitimacy of unsecured creditors protection through the lens of corporate social responsibility. Journal of Business Law (8). pp. 868-898. ISSN 0021-9460

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Abstract

In this article, the protection of unsecured creditors as a special group of stakeholders will be discussed from a progressive viewpoint, linking their position to the concept of Corporate Social Responsibility (CSR). CSR has been gaining impetus globally in the last two decades by promoting stakeholder- and society-friendly innovations and changes in governmental policies and business operations, and by promoting enforceable improvements in future strategic plans. The adoption of CSR principles results in a movement away from the separate consideration of the position of individual constituencies towards a broader and more philosophical consideration of the function of corporations in society, a change in focus in the UK to emphasise the long-term interests of corporations. With reference to the current legal inefficiencies, this paper addresses itself to the necessity of protection for unsecured creditors as a disadvantaged group of stakeholders in various insolvency regimes, and examines ways to expatiate this. The impetus gained from progressive discussions of CSR will provide a platform for future legislative reform and result in further protection for unsecured creditors.

Item Type:	Article
Schools and Departments:	School of Law, Politics and Sociology > Law
Subjects:	K Law
Depositing User:	Jingchen Zhao
Date Deposited:	05 Feb 2013 15:54
Last Modified:	25 Nov 2013 10:33
URI:	http://srodev.sussex.ac.uk/id/eprint/43636

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