By Ben Ayed M., El Mehdi K., Pacella F.

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Corporations maximise the return to shareholders by being good citizens. ' Teubner, `Enterprise Corporatism', 131. Theoretical underpinnings 19 actions of the system. 100 Teubner's adherence to a communitaire viewpoint is quali®ed because he sees corporations as having a degree of autonomy He believes that the development of the collectivity means that the corporation becomes separate both from internal actors and from the external market environment. Although admitting that this gives the corporation some autonomy, he believes that the change of emphasis from the human actors to the legal person also transfers the obligation to be socially responsible to the organisation itself, so that `it opens up far-reaching perspectives of economic and political control'.

Wolff has adopted the `weak' version of the ®ction/concession theory. And by Teubner's analysis; see Teubner `Enterprise Corporatism', 130. , 154. 138 This sees the company as something distinct from the contracting partners' original compact but seeks to show that, in coming together and using the corporate tool, the contractors have created an instrument that has a real identity separate from and quite distinct from the original contracting partners. The company, if you like, `¯oats free' from its founders and becomes a separate person with its own interests.

Teubner, `Enterprise Corporatism', 154. ' 20 Theoretical underpinnings also have value in understanding governance structures. The basis of this theory is still a blurring of the line between public and private domains, but emphasis is placed on the role of groups within society to represent various interests (for example, labour represented by trade unions). Although the emphasis on the blurring of lines between public and private concerns may have unfortunate consequences (see below), some theorists lay emphasis on collective goals.

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