Journal articles: 'Business judgment rule'

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Kovačević, Tijana. "Business judgment rule." Strani pravni zivot, no. 2 (2020): 141–59. http://dx.doi.org/10.5937/spz64-25007.

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Abdala, Martin Eugenio. "The business judgment rule under Argentine law." Revista de Derecho Uninorte, no. 42 (2014): 264–84. http://dx.doi.org/10.14482/dere.42.5970.

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Told, Julia. "Business Judgment Rule: A Generally Applicable Principle?" European Business Law Review 26, Issue 5 (October 1, 2015): 713–32. http://dx.doi.org/10.54648/eulr2015035.

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This article examines the reach and applicability of the business judgment rule as developed by US case law to civil law countries – especially countries from the European judicial area – that hold for an objective standard of due care and a wide margin of discretion for managers in making business decisions. The economic crisis and the awareness of the lack of predictability of all relevant economic parameters when making business decisions, make the applicability of the business judgment rule highly relevant. In light of this, the present article elaborates on the concrete functioning of the business judgment rule and focuses on its different components. Thereby, the business judgment rule is divided into a substantial and a procedural part. The paper’s findings are that only the substantial part of the business judgment rule may be applied in civil law countries that hold for an objective standard of due care for managers. However, the procedural part of the rule is likely to conflict with more specific national procedural rules that usually prevail.

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Keay, Andrew, and Joan Loughrey. "The concept of business judgment." Legal Studies 39, no. 1 (December 11, 2018): 36–55. http://dx.doi.org/10.1017/lst.2018.29.

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AbstractCategorising something as a business judgment can provide directors with a powerful shield from accountability. It has been said that the courts in England and Wales defer to directors’ business judgments and directors’ decisions are protected from review in other jurisdictions by a business judgment rule. Yet what a business judgment is has never been addressed, and so precisely what is being protected, and why, is unclear. This paper analyses case law in England and Wales and key Australian and US cases to answer this question. It argues that the courts use the term judgment in two senses: an ability, and a decision sense, and that business judgment in both senses can be linked to Knight's concept of entrepreneurial judgment, and directors’ wealth creation function. Conversely, decisions that are linked to directors’ corporate governance function and are less easy to categorise as entrepreneurial are less likely to be viewed as business judgments.

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Lopes, Christian Sahb Batista, and Pedro Ernesto Gomes Rocha. "Business Judgment Rule: Padrões e Atualidades." Revista Brasileira de Direito Empresarial 1, no. 1 (December 6, 2015): 130. http://dx.doi.org/10.26668/indexlawjournals/2526-0235/2015.v1i1.610.

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O presente trabalho tem por escopo a conceituação e apresentação dos padrões vistos na doutrina e na lei para aplicação da teoria da business judgment rule, que passam especialmente pelos deveres dos administradores sociais e dos requisitos para que seus atos de gestão valham-se da presunção de correição e irresponsabilidade pessoal dada pela business judgment rule. Adicionalmente, será apresentada a teoria da deepening insolvency e sua relação com a business judgment rule no direito brasileiro. Por fim, pretende-se discutir a aplicação ou não da business judgment rule ao caso da aquisição, pela Petrobras, da refinaria de Pasadena, levando-se em consideração a manifestação pública da Presidente Dilma Roussef sobre a base jurídica utilizada pelo Conselho de Administração da companhia para tomar a decisão de adquirir a refinaria, bem como os fatos veiculados na mídia sobre o assunto.

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Bitė, Virginijus, and Gintarė Gumuliauskienė. "The Business Judgment Rule in Lithuania." European Business Organization Law Review 17, no. 4 (November 16, 2016): 555–76. http://dx.doi.org/10.1007/s40804-016-0052-0.

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Hafizh Akram, Muhamad, and Nisriina Primadani Fanaro. "IMPLEMENTASI DOKTRIN BUSINESS JUDGEMENT RULE DI INDONESIA." Ganesha Law Review 1, no. 1 (May 17, 2019): 77–87. http://dx.doi.org/10.23887/glr.v1i1.21.

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The Board of Directors is one of the most important organs in a Limited Liability Company. Management of the Company that carried out by the board of directors includes running business activities, controlling, and making business decisions that have an impact on a Limited Liability Company whether the decision will cause loss or profit. In making business decisions, the Board of Directors must do so in the manner of good faith, carefully, and in accordance with the aims and objectives of the Company's establishment. If the directors already made the decision the correct manner, they cannot be held personally accountable for the decisions they make. That is what a Business judgment rules is, a doctrine that provides protection to directors to not be personally responsible if the business decisions taken cause losses to the company. Relying on a literature study, the business judgment rule is implicitly regulated in article 92 paragraph 1 and 97 paragraph 5 of Law no. 40 of 2007 regarding the Limited Liability Companies, several cases related to the business judgment rule, this article intends to analyze the implementation of the doctrine of the business judgment rule in Indonesia

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Schirrmacher, Carsten, and Nicolas Hildebrandt. "Die Business Judgment Rule bei der Übernahmeverteidigung." Die Aktiengesellschaft 66, no. 6 (March 1, 2021): 220–27. http://dx.doi.org/10.9785/ag-2021-660607.

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Hayyi, Muhammad Akram Syarif, Muhammad Said Karim, and Aminuddin Ilmar. "Urgensi Penerapan Doktrin Business Judgment Rule terhadap Direksi BUMN dalam Perkara Tindak Pidana Korupsi." Jurnal Ilmiah Pendidikan Pancasila dan Kewarganegaraan 6, no. 1 (June 27, 2021): 72. http://dx.doi.org/10.17977/um019v6i1p72-81.

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The objective of this study was to hold directors accountable for company losses, the existence of business judgment rule in positive law, and the application of Business Judgment Rule as Legal Protection of the Board of Directors in Corruption Cases. The data obtained was presented analytically descriptively where the facts were described and later analyzed based on the laws and rules applicable in Indonesia as well as the theories. The accountability of the directors of State-Owned Enterprises for the company’s losses could be classified as acts that harm the state’s finances that include administrative, civil, and criminal responsibilities. The existence of business judgment rule doctrine in positive law had been regulated in Article 97 paragraph (5) of Law Number 40 of 2007 concerning Limited Liability Companies but had not been regulated technically related to the procedures for its application. The application of the business judgment rule doctrine as the protection of directors of State-Owned Enterprises in corruption cases should be used as material for consideration related to the removal of the defendant’s fault.

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Josková, Lucie. "The Business Judgment Rule in the Czech Republic." AUC IURIDICA 68, no. 3 (September 14, 2022): 37–47. http://dx.doi.org/10.14712/23366478.2022.34.

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Business Judgment Rule has been part of the Czech written law since 2014. Nevertheless, there are many controversies regarding its formulation as well as interpretation. The objective of this paper is to analyse the purpose of BJR and based on this to suggest pre-requisites which must be fulfilled to apply BJR. At the same time the impact of the introduction of BJR into written law is examined.

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Parameshwara, Dr (cand). "Implementation of Business Judgment Rule Doctrine In Indonesia." IOSR Journal of Humanities and Social Science 21, no. 08 (August 2016): 17–26. http://dx.doi.org/10.9790/0837-2108121726.

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Irawan, Chandra Noviardy, Pujiyono Pujiyono, and Irma Cahyaningtyas. "Implementation of Business Judgement Rules in Indonesia: Theories, Practices, and Contemporary Cases." Indonesian Journal of Advocacy and Legal Services 4, no. 1 (April 26, 2022): 1–24. http://dx.doi.org/10.15294/ijals.v4i1.53335.

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Business judgment rule considerations were born with a background of problems where they are always blamed for losses suffered by the company, the impression that is built basically does not reflect the values in the company’s business operations. This research aims to analyze how is the adoption process Business Judgement Rule in Indonesian law, and how to apply Business Judgement Rule in Indonesian. This research also intended to understand the application of the Business Judgment Rule doctrine in Indonesia. This research is normative juridical research conducted through library research and analyzed by qualitative research methods on the secondary data found. The results of this study indicate that the application of the Business Judgment Rule can provide legal protection for the board of directors for business policies taken even though the business policy results in losses for the company, as long as the business decisions are made with prudence, in good faith, and in the scope of authority and responsibility.

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Werlauff, Erik. "How to Try Cases on Board and Management Liability After a Financial Crisis." European Company Law 17, Issue 3 (June 1, 2020): 72–75. http://dx.doi.org/10.54648/eucl2020012.

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Since Denmark had not had the principle of the business judgment rule finally confirmed within the financial sector confirmed, a judgment from the Danish Supreme Court on this matter was anticipated with great anxiety: whether the principle would be confirmed, and if so, how the further details of the principle would be drawn up. tort law, business judgment rule, financial sector, Danish law

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Ubochioma, Wiseman. "An Examination of the Relevance of the Codification and Application of the American Business Judgment Rule to Nigerian Corporate Law." Journal of African Law 64, no. 3 (July 7, 2020): 373–97. http://dx.doi.org/10.1017/s0021855320000169.

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AbstractThe business judgment rule is an ancient doctrine that was developed in the US. It seeks to prevent courts from reviewing directors’ decisions, on the basis that directors have the capacity and expertise to make business decisions. This article examines the desirability of applying the US business judgment rule in Nigeria. Through a comparative analysis, it argues that the peculiarities of Nigeria's corporate law and environment do not justify the application of the rule. More specifically, it contends that differences in the legal regime for derivative suits, standards of duty of care and skill, corporate law culture, and the distinct epoch in which the business judgment rule and the duty of care and skill were recognized in the US, make its application unnecessary in Nigeria. It concludes that the current statutory duty of care and skill should be retained to hold directors accountable for reckless business decisions.

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Prasetio, Prasetio. "DILEMA PENERAPAN BUSINESS JUDGMENT RULE DALAM TRANSAKSI KOMERSIAL BUMN." Jurnal Magister Ilmu Hukum 1, no. 2 (July 17, 2021): 26. http://dx.doi.org/10.36722/jmih.v1i2.734.

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Abstrak-Direksi BUMN dalam melakukan transaksi dan/atau investasi guna mencapai pendapatan (revenue) dan pertumbuhan (growth) Perseroan dapat dihadapkan kepada situasi yang dilematis yang menimbulkan keragu-raguan dalam mengambil keputusan. Hal ini diakibatkan karena tumpang-tindihnya pengaturan tentang keuangan negara dalam berbagai ketentuan perundangundangan pada saat mengidentifikasi atau pun menafsirkan kerugian bisnis. UU Perseroan Terbatas melindungi direksi dari pertanggungjawaban atas setiap tindakan yang mengakibatkan timbulnya kerugian perseroan, sepanjang tindakan tersebut dilakukan dengan itikad baik, dengan kehati-hatian yang wajar, serta untuk kepentingan sesuai dengan maksud dan tujuan perseroan. Konsep ini dikenal sebagai doktrin Business Judgment Rule. Namun jika dihadapkan kepada fakta yang terjadi dalam tatanan praktis terkait tindak pidana korupsi, perlindungan kepentingan hukum direksi berdasarkan prinsip business judgment rule cenderung diabaikan dan tidak pernah diterapkan. Hasil penelitian adalah sebagai berikut: keputusan bisnis direksi persero untuk melakukan restrukturisasi transaksi komersial persero khususnya yang terkait dengan transaksi dan/atau investasi dilakukan berdasarkan fiduciary duty yang memenuhi unsur-unsur doktrin BJR dengan menerapkan sistim pengendalian internal (internal control-system) yang efektif, manajemen risiko yang mengutamakan kualitas proses kehati-hatian (prudent risk management) dan kebijakan akuntansi manajemen maupun keuangan yang konservatif, serta sistim pengawasan (audit) internal maupun eksternal persero yang independen. Kerugian persero atau corporate loss yang diakibatkan dari penerapan BJR tidak merupakan kerugian negara tetapi kerugian perusahaan yang lazim disebut risiko bisnis. Ketidakharmonisan peraturan perundang-undangan saat ini menimbulkan ketidakpastian hukum dan risiko bagi para direksi persero untuk mengambil keputusan bisnis mengingat dalam praktiknya doktrin BJR telah diabaikan.Kata kunci: BUMN, restrukturisasi, risiko bisnis, dan business judgment rule

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Park, Inho. "Business Judgment Rule and Director’s Occupational Breach of Trust." Institute for Legal Studies Chonnam National University 38, no. 4 (November 30, 2018): 159–88. http://dx.doi.org/10.38133/cnulawreview.2018.38.4.159.

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LIM, Jaihun. "A Study on Leverage Buyout and Business Judgment Rule." Wonkwang University Legal Research Institute 38, no. 3 (September 30, 2022): 77–99. http://dx.doi.org/10.22397/wlri.2022.38.3.77.

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Since the Supreme Court's conviction on collateral type Leveraged Buy-Out in 2010, There has been much debate about criminal sanctions over borrowing. LBO, a financial method of borrowing money from outside, has two aspects. One is to increase the efficiency of the target company's operation, and the other is that the buyer does not bear the risk arising from M&A process because the acquisition fund of the company's acquirer is transferred to the target company. In response, LBO is a simple financial technique that raises acquisition funds, and it is argued that it is not desirable to impose criminal sanctions to ensure management's creative activities because the risks arising in the process are general risks accompanying corporate activities. However, the core of criminal punishment for LBO is not the illegality of financial techniques that acquire and merge companies with other people's capital, but that it cannot be allowed to transfer loan to Target company in the M&A process. On the other hand, it is not reasonable to apply the crime of breach based on the trust relationship between the modern monarch and the lord to today's management activities. In addition, it is difficult to function as an entrepreneur's norm because the constituent requirements of the crime of breach are unclear. And management is bound to be very adventurous, but it is not reasonable to punish it criminally. However, while the crime of breach is applied to individual transactions, it is not equal to deny the crime of breach only for management activities. Breach is an efficient means in that it requires minimum ethics and order in company management. In addition, there is no reason to deny the application of breach of trust to LBO, considering that standards have been established to limit the constitutional requirements for breach of trust. The precedent also takes the position that whether or not LBO is guilty of breach of trust should be judged individually depending on whether the act meets the constituent requirements of breach of trust in the M&A process. However, in the judgment of LBO's breach of trust, the punishment is determined based on whether the company is damaged or not without a specific judgment on the violation of duty of care by management or intention. In other words, breach of trust is judged based on whether profits to offset losses are provided to the target company. There is a risk that this will not be interpreted as a crime without damage to the company. Therefore, it is desirable to judge the punishment for LBO in detail in connection with the constituent requirements of the crime of breach.

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Lutsenko, Sergey I. "Application of Business Judgment Rule in the Russian Realities." Economic Strategies 144, no. 4 (July 21, 2019): 126–31. http://dx.doi.org/10.33917/es-4.162.2019.126-131.

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Kim Hye-Kyung. "Business Judgment Rule and interpretation of breach of trust." Korean Journal of Comparative Criminal Law 18, no. 1 (April 2016): 223–60. http://dx.doi.org/10.23894/kjccl.2016.18.1.009.

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Lee, Denise Ping. "The Business Judgment Rule: Should It Protect Nonprofit Directors?" Columbia Law Review 103, no. 4 (May 2003): 925. http://dx.doi.org/10.2307/1123781.

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Wicaksono, Adi Hardiyanto. "ON HARMING THE STATE FINANCES OR THE STATE ECONOMY BY A STATE-OWNED ENTERPRISE (BUMN) AND/OR ITS SUBSIDIARIES IN INDONESIA." Scientia Business Law Review (SBLR) 1, no. 2 (August 19, 2022): 63–73. http://dx.doi.org/10.56282/sblr.v1i2.222.

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Masih terjadinya kerugian keuangan negara atau perekonomian negara dalam BUMN dan/atau anak perusahaan BUMN tertentu di Indonesia telah dilakukan melalui ragam modus. Salah satu dasar hukum yang disalahgunakan oknum tertentu adalah dengan mempergunakan imunitas doktrin business judgment rule. Berdasarkan studi yuridis normative, dihasilkan dua kesimpulan. Pertama, pengaturan business judgment rule yang berlaku dalam BUMN dan/atau anak perusahaannya di Indonesia didasarkan pada UU PT, UU BUMN, dan Peraturan OJK Nomor 33/PJOK.04/2014. Kedua, dalam menangani terjadinya kerugian keuangan negara atau perekonomian negara oleh BUMN dan/atau anak perusahaannya melalui celah hukum pengaturan business judgment rule dalam UU PT, diperlukan reformulasi doktrin business judgment rule dalam UU BUMN dengan mengatur legal liablity terhadap pengurus BUMN dan anak perusahaan BUMN dan pertanggungjawaban pidana korporasi. Perluasan legal liability tersebut menjangkau pada pemenuhan kriteria-kriteria yang terdapat dalam kewajiban karena kepatutan untuk bertindak dan kewajiban karena kepatutan untuk tidak bertindakterhadap pengurus dan korporasi BUMN dan/atau anak perusahaan BUMN dalam hal terjadi kerugian pada BUMN dan/atau anak perusahaan dari BUMN tersebut.

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Januarsyah, Mas Putra Zenno, Dwidja Priyatno, Agung Sujati Winata, and Khairul Hidayat. "Penerapan Doktrin Business Judgment Rule Dalam Perkara Tindak Pidana Korupsi Karen Agustiawan." Jurnal Ius Constituendum 7, no. 1 (April 22, 2022): 143. http://dx.doi.org/10.26623/jic.v7i1.4922.

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Penelitian ini bertujuan untuk mengkaji dan menganalisis penerapan business judgment rule dalam perkara tindak pidana korupsi Karen Agustiawan. Penelitian ini bersifat deskriptif dengan jenis yuridis normatif. Pendekatan yang digunakan adalah pendekatan peraturan perundang-undangan (statute approach) dan pendekatan kasus (case approach) dengan menggunakan data sekunder yang dianalisis secara kualitatif. Hasil penelitian ini menunjukkan penerapan doktrin business judgment rule dalam perkara tindak pidana korupsi Karen Agustiawan terjadi pada tingkat pemeriksaan di Mahkamah Agung (judex juris). Dalam pertimbangannya, apa yang dilakukan oleh Karen Agustiawan tidak keluar dari ranah business judgment rule, ditandai dengan tidak adanya kecurangan (fraud), benturan kepentingan (conflict of interest), perbuatan melawan hukum, dan kesalahan yang disengaja. This study aims to examine and analyze the application of the business judgment rule in the corruption case of Karen Agustiawan. This research is descriptive with normative juridical type. The approach used is the approach laws and regulations (statute approach) and case approach using secondary data which was analyzed qualitatively. The results of this study show the application of the business judgment rule doctrine in the corruption case of Karen Agustiawan occurred at the examination level at the Supreme Court (judex juris). In her judgment, what Karen Agustiawan did was not outside the realm of the business judgment rule, marked by the absence of fraud, conflict of interest, unlawful acts, and intentional mistakes.

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Jarusevičius, Justinas. "Is There Any Basis for Categorizing the Business Judgment Rule as a Presumption?" Teisė 112 (September 23, 2019): 186–202. http://dx.doi.org/10.15388/teise.2019.112.10.

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This article analyzes whether there are grounds for the case law to categorize the business judgment rule as a presumption. The author presents the main criterions that cause the categorization of the legal norm as a presumption. In the context of the identified criterions of the presumption category, it is evaluated whether the business judgment rule matches such criterions.

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Wildayanti and Kasjim Salenda. "Penerapan prinsip Business Judgment Rule (BJR) terhadap Putusan Direksi Perusahaan Perseroan Terbatas." Alauddin Law Development Journal 4, no. 3 (November 28, 2022): 503–19. http://dx.doi.org/10.24252/aldev.v4i3.18819.

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Pokok permbahasan dari penelitian ini adalah penerapan prinsip Business Judgment Rule (BJR) terhadap keputusan Direksi Perusahaan Perseroan Terbatas, Pokok permasalahan dibagi dua yaitu: 1. Bagaimana mekanisme penerapan prinsip business judgment rule terhadap putusan direksi perusahaan Perseroan Terbatas. 2. Faktor-foktor apa yang menghambat penerapan Prinsip Business Judgment Rule terhadap putusan direksi perusahaan Perseroan Terbatas. Jenis Penelitian ini adalah penelitian normatif dengan teknik pengumpulan data yang digunakan dalam penelitian ini yaitu teknik pengumpulan bahan hukum yang digunakan adalah mengumpulkan bahan hukum primer, sekunder, dan tersier. Hasil penelitian ini menunjukkan bahwa Mekanisme penerapan prinsip busisness judgment rule terhadap putusan direksi perusahaan Perseroan Terbatas belum optimal. Hal demikian dapat dilihat dari rendahnya kasus yang terselesaikan dengan menerapkan prinsip BJR dari keseluruhan kasus ada. Sebagaimana kasus Hotasi D.P Nababan yang dinyatakan tidak bersalah pada persidangan tingkat pertama karena prinsip BJR dijadikan hakim sebagai pertimbangan. Namun Hotasi D.P Nababan akhirnya mendekam dipenjara dikarenakan prinsip BJR diabaikan oleh majelis hakim pada persidangan tingkat banding. Hal demikian dikarenakan masih banyak faktor yang menghambat penerapan prinsip BJR terhadap keputusan direksi perusahaan Perseroan Terbatas. Implikasi dalam penelitian ini yaitu mengoptimalkan mekanisme penerapan prinsip BJR terhadap setiap kasus pada semua tingkatan persidangan. Selain itu juga perlu dilakukan upaya pencegahan terhadap Faktor-Faktor yang menghambat penerapan prinsip business judgment rule terhadap putusan direksi perusahaan Perseroan Terbatas dengan sosialisasi mengenai prinsip BJR kepada semua elemen penegak hokum, harmonisasi peraturan perundang-undangan dan status kekayaan BUMN sebagai bagian dari kekayaan Negara yang dipisahkan agar ditetapkan sebagai kekayaan BUMN semata.

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Irfan Iryadi, Teuku Syahrul Ansari, Iskandar Zulkarnain, and Ti Aisyah. "Business Judgment Rule and Fairness Standards in the West: A Theoretical Review." Britain International of Humanities and Social Sciences (BIoHS) Journal 2, no. 2 (June 29, 2020): 556–65. http://dx.doi.org/10.33258/biohs.v2i2.258.

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The application of the Business Judgment Rule (BJR) in the United States has also been increasingly tightened by the necessity of carrying out the duties and authority of directors based on the principle of prudence and efforts to fulfill proper information (transparency and fully disclosure) before the directors take action or decision. In a number of countries, the Business Judgment Rule (BJR) doctrine has been used quite extensively in their legal systems. One of them is in the United States. Basically there are two concepts applying the provisions applied by the American Law Institute (ALI). Second, the provisions that took place in the Delaware court. These provisions have been adopted by several courts. Overall, the Business Judgment Rule and fairness standard are separate research standards used by the court, and one does not feel confused with one another. The Business Judgment Rule analysis does not include a fair analysis, because the duty of care does not require unauthorized transactions to be the object of court examination concerned with fairness standards, only the director acts in good faith, with caution with an information base for that interest , and it does not violate wisdom.

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Wibisana, Andi Wahyu. "Can business judgment rule be a justification reason in corruption cases in state-owned enterprises in the form of limited liability companies?" International Journal of Research in Business and Social Science (2147- 4478) 11, no. 6 (September 12, 2022): 560–71. http://dx.doi.org/10.20525/ijrbs.v11i6.1975.

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This study aims to obtain a scientific, legal construction regarding the position of the business judgment rule in cases of corruption in a State-Owned Enterprise in the form of a Limited Liability Company. This research is normative legal and uses qualitative methods to produce descriptive data. The documents used are secondary data in the form of primary legal materials and secondary legal materials published in the public domain. The findings of this study conclude that efforts are needed to harmonize the business judgment rule doctrine with the Indonesian legal system and criminal law. The Government of Indonesia and the Legislative Body to make a derivative of Law Number 40 of 2007 concerning Limited Liability Companies or Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas (UUPT No.40/2007) which regulates more clearly and in detail related to the business judgment rule and its derivatives so that there is a sense of justice and legal certainty and legal protection for stakeholders, law enforcers and directors. Thus, the Directors of State-Owned Enterprise s(SOE) or Badan Usaha Milik Negara Pesero (BUMN) in running the company have accountability rules related to business decisions made to optimize the company's performance achievements, which in turn can have a positive impact on the Indonesian economy.

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Baaziz, Yosra, Moez Labidi Labidi, and Ahmed Atil. "Unveiling Special Policy Regime, Judgment And Taylor Rules In Tunisia." Journal of Applied Business Research (JABR) 32, no. 1 (December 31, 2015): 23. http://dx.doi.org/10.19030/jabr.v32i1.9521.

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Given limited research on monetary policy rules in revolutionary countries, this paper challenges the suitability of the Taylor rule in characterizing the monetary policy behavior of the Tunisian Central Bank (BCT), especially in turbulent times. More specifically, we investigate the possibility that the Taylor rule should be formulated as a threshold process and examine the validity of such nonlinear Taylor rule as a robust rule for conducting monetary policy in Tunisia. Using quarterly data from 1998:Q4 to 2013:Q4 to analyze the movement of nominal short-term interest rate of the BCT, we find that the nonlinear Taylor rule improves its performance with the advent of special events providing thus a better description of the Tunisian interest rate setting. In particular, our results show that the adoption of an appropriate nonlinear approach leads to a reduction in the errors of 150 basis points in 1999 and 2009, and 60 basis points in 2011, relative to the linear approach.

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Kim, Sung-Hwa. "Application of the Business Judgment Rule under the Commercial Act." Institute for Legal Studies 34, no. 2 (June 30, 2017): 175–95. http://dx.doi.org/10.18018/hylr.2017.34.2.175.

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Hernando Cebriá, Luis. "The Spanish and the European Codification of the Business Judgment Rule." European Company and Financial Law Review 15, no. 1 (June 13, 2018): 41–68. http://dx.doi.org/10.1515/ecfr-2018-0002.

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Different Model Acts and national approaches to the Business Judgment Rule, some by means of its codification, others through the requirements to be considered when delimiting the directors’ responsibilities, have tried to give a better orientation to the positions assumed by directors when they have to deal with business affairs on behalf of the company. Even in cases where there is not a specific section in internal law, the Business Judgment Rule is a common reference in many jurisdictions when the circumstances and elements of directors’ decision-making are considered. In Spain, Law 31/2014, of December 3, to improve corporate governance, has codified the “protección de la discrecionalidad empresarial” in Article 226 of Ley de Sociedades de Capital, assuming the developments of the Business Judgment Rule in other jurisdictions. However, international principles and Model Acts, and other European jurisdictions, such as Germany, do not face codification of the Rule in the same way, and even consider differently requirements for its application. This paper discusses, through the approaches in Comparative law, particularly in other areas where the Business Judgment Rule has a greater tradition, the impact that the codification of the “protección de la discrecionalidad empresarial” may have in Spanish corporate governance. To this end, the paper focuses on the scope of this singular protection on directors’ discretion, as well as on the requirements for its application, which shall serve at last to provide judges with a useful tool to decide on business matters where directors’ responsibility is involved. Comparison with Common Law and more recently with other European approaches is a starting point to critically check whether Spanish systematization avails of the dynamics of the Rule in order to improve and properly coordinate the whole system of corporate governance.

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Yunus, Nur Rohim, and Latipah Nasution. "TRANSFORMASI DAN PENGAWASAN KEUANGAN NEGARA PADA BUMN DENGAN PRINSIP BUSINESS JUDGMENT RULE." Jurnal Hukum Samudra Keadilan 16, no. 2 (December 7, 2021): 192–203. http://dx.doi.org/10.33059/jhsk.v16i2.3793.

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Abstract, State assets in the form of shares of business entities are not state assets, but have been transformed into business entity assets. Likewise, government officials who become Directors/Commissioners and other shareholders have an equal position with private shareholders. The Board of Directors in carrying out their duties and authorities has the authority and protection in every business decision making, but this does not escape supervision through the BJR (Business Judgment Rule) principle, as contained in the Limited Liability Company Law. This study uses a qualitative research method with a statutory approach. The purpose of this study is to understand the criteria for state finances in SOEs and the legal consequences of financial losses and supervision of SOEs. The results of the study stated that the implementation of BJR on the Board of Directors of SOEs could be carried out after fulfilling the terms and conditions of the enactment of BJR. BJR can be implemented because a legal entity is actually subject to the Limited Liability Company law. Keywords: Supervision of SOEs ion; Business Judgment Rules; State Finance Intisari: Kekayaan negara yang berbentuk saham dari badan usaha bukan merupakan kekayaan negara, tetapi telah bertransformasi menjadi kekayaan badan usaha. Demikian terhadap pejabat pemerintah yang menjadi Direksi/Komisaris dan pemegang saham lainnya memiliki kedudukan yang setara dengan pemegang saham swasta. Direksi dalam menjalankan tugas dan wewenang memiliki kewenangan dan perlindungan dalam setiap pengambilan keputusan bisnis, namun ini tak luput dari pengawasan melalui prinsip BJR (Business Judgment Rule), sebagaimana termuat dalam Undang-Undang Perseroan Terbatas. Penelitian ini menggunakan metode penelitian kualitatif dengan pendekatan perundang-undangan. Tujuan penelitian untuk dapat memahami kriteria keuangan negara pada BUMN dan akibat hukum kerugian keuangan dan pengawasan pada BUMN. Hasil penelitian menyatakan bahwa implementasi BJR terhadap Direksi BUMN dapat dilakukan setelah memenuhi syarat dan ketentuan berlakunya BJR. BJR dapat diimplementasikan karena badan usaha berbadan hukum sejatinya tunduk pada undang-undang Perseroan Terbatas. Kata Kunci: Pengawasan BUMN; Business Judgment Rule; Kuangan Negara

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Crivellaro, Jacopo. "Proxy Access for Shareholders: A Mirage after the Business Roundtable Decision?" European Business Law Review 24, Issue 5 (October 1, 2013): 617–33. http://dx.doi.org/10.54648/eulr2013030.

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This article surveys the role of shareholder proxy access in US corporate law following the Business Roundtable decision of 2011 in which the D.C. Circuit Court of Appeals vacated the shareholder proxy access rule introduced in Rule 14a-11. The judgment engendered heated academic debate over the necessity and value of shareholder proxy access in the modern corporation in either its former or a revised form. To this end, this article highlights several criticisms of the proxy access framework insofar as it strengthens the role of shareholders at the expense of other stakeholders in the corporate setting. The article concludes with a summary of the current state of the law, with proxy access rules in place through the private ordering provisions of the revised Rule 14a-8.

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Azheri, Busyra, and Upita Anggunsuri. "The Implementation of Business Judgment Rule Principle in Managing the Company." Nagari Law Review 3, no. 2 (April 28, 2020): 32. http://dx.doi.org/10.25077/nalrev.v.3.i.2.p.32-44.2020.

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A business decision is very important to determine the quality of the Board of Directors in carrying out their duties professionally and responsibly as expected by Good Corporate Governance (GCG). The effectiveness of the Board of Directors is the center of the implementation of Good Corporate Governance. Bank Business is very risky (such: credit risk, reputation risk, etc.). The Board of Directors in making a business decision, will always face unpredictable condition. In Banking practice, the Head of Branch Office Bank is the extension of Director, if the Head of Branch Office Bank signs credit agreement out of the rules (plafond). His action has categorized as ultra vires, so the consequence is the Head of Branch Office Bank can be held responsible for his action. In this case, the Board of Directors has not taken responsibility for the action of the Head of Branch Bank, based on Business Judgment Principle, the Director has not taken its responsibility for ultra vires act which is done by the Head of Branch Office Bank, as along as Director has managed the Company in good faith, carefully and does not against the law. Therefore, Business Judgment Principle gives legal protection to the Director in making a business decision

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Londoño-González, Sergio. "Administrador blindado, juez amordazado: ¿se justifica adoptar la business judgment rule en el ordenamiento jurídico colombiano?" Revista de Derecho Privado, no. 55 (June 1, 2016): 1–38. http://dx.doi.org/10.15425/redepriv.55.2016.06.

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Ki-Wook LEE. "Die Anwendung der Business Judgment Rule bei Interessenkonflikt innerhalb des Vorstands." Journal of Law and Politics research 17, no. 2 (June 2017): 287–311. http://dx.doi.org/10.17926/kaolp.2017.17.2.287.

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한석훈. "The Adoption of the Business Judgment Rule on the Criminal Liability." SungKyunKwan Law Review 22, no. 2 (August 2010): 347–76. http://dx.doi.org/10.17008/skklr.2010.22.2.011.

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박정국. "A study on judicial precedents in Japan concerning business judgment rule." Journal of hongik law review 14, no. 4 (December 2013): 539–68. http://dx.doi.org/10.16960/jhlr.14.4.201312.539.

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KIRK, CAREY H. "THE TRANS UNION CASE: IS IT BUSINESS JUDGMENT RULE AS USUAL?" American Business Law Journal 24, no. 3 (September 1986): 467–81. http://dx.doi.org/10.1111/j.1744-1714.1986.tb00507.x.

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Beja, Xolisa. "Business judgment rule to directors against personal liability for breaches of some of their duties." Journal of Corporate and Commercial Law & Practice 7, no. 1 (2021): 1–35. http://dx.doi.org/10.47348/jccl/v7/i1a1.

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This article examines the extent to which s 76(4)(a) of the Companies Act 71 of 2008 protects directors against personal liability for breaches of their duties to act in the company’s best interests, with due care, skill and diligence. The essential substantive elements of s 76(4)(a) create (as a minimum) a business judgment rule. Generally, that rule provides a director with a defence against liability for a breach of his duty of care, skill and diligence if, when he acted (or omitted to act), he did so reasonably, honestly, with no self-interest and in the interests of the company. In analysing s 76(4)(a) as an embodiment of features of a traditional business judgment rule, this article briefly discusses how a similar rule in Australia is drafted and applied in practice by their courts. The article concludes that s 76(4) (a) creates protection for directors that is more than the protection that is provided by a traditional business judgment rule. This conclusion is based on the extensive nature and scope of authority and powers which s 66(1) of the Act grants to directors. In the same breath, however, s 76(4)(a) manages to make directors appropriately accountable to the company’s stakeholders, in keeping with some of the fundamental objectives and purposes of the Act.

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Priya Kumari and Rishi Kumar. "Business Judgment Rule: Defense for the Directors in Cases of Alleged Breach of Duties." Legal Research Development: An International Refereed e-Journal 4, no. III (March 30, 2020): 34–43. http://dx.doi.org/10.53724/lrd/v4n3.04.

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In this article researchers will explain about Business Judgment Rule and how it can be used as a defence by the directors’ of the corporation. In simple language it can be said that the “Business judgment rule” is nothing but a judicially evolved doctrine derived out of case laws in the field of corporate laws. This doctrine has its origin in USA followed by U.K. The rule is in use in some form or the other in the common law countries e.g. whales, Australia, Canada, India &c. Australia has codified this rule under sec.1180(2) Corporations Act 2001, in South Africa Companies Act 71 of 200 section 76(4) provides for director’s duty to work towards best interest of the business with due care, skill and diligence, in India section 166(2) of Companies Act, 2013 requires that for the benefit of different constituencies of a company a director must act bona fide to promote the object of the company. The Business Judgment Rule tries to protect the directors of the company by creating a safe harbour for those who works for the betterment and interest of the corporations in an honest manner and in good faith. The scope of the paper is restricted to mainly US decisions, which has seen the greatest development in interpreting cases, though certain important landmarks in the Indian and UK context have also been referred to. The paper is limited by secondary sources such as books, articles and reports available on the subject.

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Bingham, Lord. "What is the Law?" Victoria University of Wellington Law Review 40, no. 3 (December 7, 2009): 597. http://dx.doi.org/10.26686/vuwlr.v40i3.5259.

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This is the text of the 2008 Robin Cooke Lecture delivered by Lord Bingham on Thursday 4 December 2008. The author argues that the rule of law dictates that the law should be accessible, intelligible, clear, and predicable. First, citizens must be able to find out without undue difficulty regarding any criminal punishments or liability. Secondly, if the civil law confers enforceable rights or obligations, it is important to know what those rights and obligations are. Thirdly, the successful conduct of trade, investment and business generally is promoted by a body of accessible legal rules governing the rights and obligations of the parties. The author then turns to judges and explores several issues for the nature of judgments. First, Lord Bingham asks who the judge is addressing when giving judgment. Secondly, the author explores the "essential ingredients" of a judgment. Thirdly, the author explores the qualities of good judgments. Finally, the judge asks whether multiple judgments in appellate courts are desirable. The author concludes that an undue willingness in a judge to innovate subverts the very principle that he described in the article and commends Lord Cooke for his role as a simplifier, clarifier, and an expounder of law.

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Kamilah, Anita, and Trini Handayani. "The Application of Business Judgment Rule Principles: The Protection for State-Owned Enterprises Directors to Business Risk Failure." UNIFIKASI : Jurnal Ilmu Hukum 8, no. 1 (June 28, 2021): 18–27. http://dx.doi.org/10.25134/unifikasi.v8i1.3927.

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State-owned enterprises have a strategic position in realizing the mandate of the 4th paragraph of the Preamble of the 1945 Constitution. However, the absence of synchronization of laws and regulations in interpreting the State-Owned Enterprises fund as separated state assets, creates legal uncertainty for the Board of Directors when losses arise due to business risks. This condition raises the issue of the board of directors' responsibilities in managing State-Owned Enterprise's finances. Thus, there is the need to apply the Principles of Business Judgment Rule in protecting the Directors from State-Owned Enterprises losses. The approach employed in this study was juridical normative research. Specifically, this study used descriptive analysis. The data were analyzed qualitatively. The findings revealed: (1) State-owned enterprises have played a role in realizing Indonesian Economic Democracy with their distinctive business characteristics, a profit-seeking company and social services provider to the community; (2) State-owned enterprise's losses are not related to state finances. This is because state equity participation has been transformed into state shares/funds to State-owned Enterprises whose management is based on the provisions of Limited Liability Companies; and (3) The principle of the Business Judgment Rule provides protection for the Board of Directors. It states that they can not be held accountable for the losses in state-owned Enterprises if the management of State Owned Enterprises is based on the following principles: (a) due of care; (b) due of skill; (c) good faith, and (d) for the best interest of the company. In conclusion, BUMN Persero that experiences losses due to business risks cannot be categorized as state financial losses. In addition, according to the principles of business judgment rule, Directors cannot be held accountable

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Rizky Novian Hartono, Sriwati, and Wafia Silvi Dhesinta Rini1. "Kerugian Keuangan Negara pada Badan Usaha Milik Negara (BUMN) dalam Perspektif Doktrin Business Judgement Rule." KELUWIH: Jurnal Sosial dan Humaniora 2, no. 1 (April 30, 2021): 23–33. http://dx.doi.org/10.24123/soshum.v2i1.4392.

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Abstract— State-Owned Enterprises that act as an agent of development and business entity for the country are the concrete forms to reach the welfare state goal. Persero, as the example of state-owned enterprises will surely experience advantages and disadvantages due to the dynamic condition of the business world. With the various regulations that regulate state-owned enterprises itself, created a disharmony form of liability to the directors about the business loss. This research aims to identify do the loss of the state-owned enterprises would classified as state financial losses in the perspective of doctrine business judgment rule. This research using statute approach and conceptual approach shows that there is a dualism view about the position of separated-state wealth in the scope of state finances resulting in different interpretations of the meaning of state financial losses by the law enforcers. This dualism view caused a disharmony form of liability that asked to the Directors of Persero when that occur losses because according to the Section 2 and Section 3 Law Number 20 of 2001 jo Law Number 31 of 1999 concerning Eradication of Corruption, the directors would probably asked the liability for the alleged of corruption because causing state financial losses, on the other side according to the Section 97 verse 5 Law number 40 of 2007 concerning Company there is an exception to the directors so they would not be able to be charges. Furthermore, losses that happened in the state-owned enterprises can not only occur as a result of abuse of power but are result of business risks so the directors can be protected by the doctrine of business judgment rule from criminal charge. Keywords: persero state-owned enterprises, state financial losses, business risks, business judgment rule Abstrak—BUMN sebagai pelaku perekonomian nasional yang memiliki peran ganda yakni sebagai agent of development sekaligus sebagai business entity, merupakan salah satu bentuk konkret perpanjangan tangan negara dalam mewujudkan cita-cita bangsa dan negara yakni memajukan kesejahteraan umum. Layaknya sebuah perusahaan, BUMN Persero sebagai salah satu bentuk BUMN pasti akan mengalami keuntungan maupun kerugian akibat dinamisnya dunia bisnis. Menjadi sebuah problematika ketika kerugian yang dialami oleh BUMN Persero tersebut dihadapkan dengan berbagai peraturan perundang-undangan yang berlaku bagi BUMN, baik dalam ranah hukum publik maupun dalam ranah hukum privat. Penelitian ini bertujuan untuk menelaah apakah kerugian yang dialami oleh BUMN dapat diklasifikasikan sebagai kerugian keuangan negara dalam perspektif doktrin business judgment rule. Melalui penelitian yang dilakukan dengan menggunakan metode statute approach dan conceptual approach ditemukan bahwa adanya dualisme pandangan kedudukan kekayaan negara yang dipisahkan dalam lingkup keuangan negara sehingga menimbulkan perbedaan penafsiran makna kerugian keuangan negara oleh aparat penegak hukum. Dualisme pandangan ini berdampak pada ketidakharmonisan bentuk pertanggungjawaban yang dimintakan kepada Direksi BUMN Persero ketika terjadi kerugian pada tubuh BUMN sebab berdasarkan ketentuan Pasal 2 dan/atau Pasal 3 Undang-Undang Nomor 20 Tahun 2001 jo Undang-Undang Nomor 31 Tahun 1999 tentang Pemberantasan Tindak Pidana Korupsi, Direksi BUMN Persero dapat dimintakan pertanggungjawaban secara pidana atas dugaan tindak pidana korupsi karena menyebabkan kerugian keuangan negara namun berdasarkan Pasal 97 ayat (5) Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas terdapat pengecualian agar Direksi BUMN tidak dimintakan pertanggungjawaban secara pribadi. Lebih jauh, kerugian pada BUMN tidak hanya dapat terjadi akibat dari adanya penyalahgunaan wewenang melainkan akibat dari adanya risiko bisnis sehingga doktrin business judgment rule dapat diterapkan untuk memberikan perlindungan bagi direksi dari tuntutan pidana.. Kata kunci : badan usaha milik negara, kerugian keuangan negara, risiko bisnis, business judgment rule

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Winner, Martin. "The Duty of Care and Business Judgment Rule in Austrian Company Law." AUC IURIDICA 68, no. 3 (September 14, 2022): 9–22. http://dx.doi.org/10.14712/23366478.2022.32.

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The duty of care is a core instrument to incentivise managers to act diligently and in the best interest of the company. The following article highlights some key points under Austrian law and puts special emphasis on the business judgment rule, which aims to limit the liability risk of board members arising from the problem of judicial hindsight bias.

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Nasution, Latipah. "Inkonsistensi Penerapan Business Judgment Rule Terhadap Anak Perusahaan Badan Usaha Milik Negara." SALAM: Jurnal Sosial dan Budaya Syar-i 9, no. 5 (June 19, 2022): 1557–74. http://dx.doi.org/10.15408/sjsbs.v9i4.26402.

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The breadth of the scope of state finances has implications for the extent of supervision carried out by the Supreme Audit Agency (BPK), the provisions of article 2 letter g of Law Number 17 of 2003 concerning State Finance state that assets are separated from state/regional companies; then Article 6 paragraph 1 and Article 10 paragraph 1 of Law Number 15 of 2006 the Supreme Audit Agency contains the phrase "another institution or agency that manages state finances." This phrase does not provide legal certainty regarding the limits of the BPK's authority in conducting audits. So that BUMN Subsidiaries become the object of examination by the BPK which is not actually its authority. The research method in this article uses a normative method with a conceptual approach. The results of the study indicate that there is an excess of authority by BPK in carrying out its authority, examination of State Subsidiaries which are not under the authority of BPK. This is based on the separation of state assets in business entities and is supported by the theory of legal entities and the transformation of state finances.Keywords: Separation of National Assets; State finances; Public Legal Entities; Business Judgment Rule AbstrakLuasnya lingkup keuangan negara memberikan implikasi pada luasnya pengawasan yang dilakukan oleh Badan Pemeriksa Keuangan (BPK), ketentuan pasal 2 huruf g Undang-Undang Nomor 17 tahun 2003 tentang Keuangan Negara menyatakan bahwa kekayaan yang dipisahkan pada perusahaan negara/ perusahaan daerah; kemudian Pasal 6 ayat 1 dan Pasal 10 ayat 1 Undang-Undang Nomor 15 Tahun 2006 Badan Pemeriksa Keuangan terdapat frasa “lembaga atau badan lain yang mengelola keuangan negara.” Frasa tersebut tidak memberikan kepastian hukum terhadap batasan kewenangan BPK dalam melakukan pemeriksaan. Sehingga Anak Perusahaan BUMN menjadi objek pemeriksaan oleh BPK yang sejatinya bukan merupakan kewenangannya. Metode penelitian pada artikel ini menggunakan metode normatif dengan pendekatan konseptual. Hasil penelitian menunjukkan adanya pelampauan wewenang yang dilakukan BPK dalam menjalankan kewenangannya, pemeriksaan terhadap Anak Perusahaan Negara yang bukan merupakan kewenangan BPK. Hal ini didasari karena adanya pemisahan kekayaan negara pada badan usaha dan didukung oleh teori badan hukum dan transformasi keuangan negara.Kata Kunci: Pemisahan Kekayaan Negara; Keuangan Negara; Badan Hukum Publik; Business Judgment Rule

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Hartanto, Ghani Satria, Dewi Kania Sugiharti, and Anita Afriana. "Aktualisasi Mitigasi Risiko Bisnis Berdasarkan Prinsip Fiduciary Duty dan Business Judgment Rule." Jurnal Sains Sosio Humaniora 5, no. 2 (December 30, 2021): 1191–202. http://dx.doi.org/10.22437/jssh.v5i2.16535.

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Proyek besar dalam rangka pembangunan menyebabkan BUMN mengalami kesulitan keuangan, bahkan merugi, input atau keuntungan yang diperoleh dari pembangunan lebih sedikit daripada output atau biaya yang telah digunakan, dalam hal ini direksi bertanggungjawab atas pengelolaan atau pengurusan perusahaan dengan baik mungkin, walaupun dibayang-banyangi oleh berbagai risiko, diantaranya risiko bisnis, maka dari itu direksi perlu melakukan mitigasi risiko agar dapat melaksakan tugas dan fungsinya dengan sebaik mungkin dan memaksimalkan pencapaian maksud dan tujuan pendirian BUMN. Metode pendekatan dalam penelitian ini adalah yuridis normatif yang lebih mengutamakan penelitian kepustakaan. Spesifikasi penelitian bersifat deskriptif. Tahap penelitian dilakukan melalui penelitian kepustakaan yaitu mengumpulkan data sekunder berupa bahan hukum primer, sekunder, dan penelitian lapangan. Hasil penelitian menyimpulkan kerugian yang dialami oleh BUMN yang melakukan kegiatan infrasturktur adalah sulit untuk dihindari, apalagi dalam konteks perusahaan yang maksud dan tujuan adalah mencari keuntungan dan optimalisasi mitigasi risiko dapat terwujud ketika direksi mengimplementasikan prinsip-prinsip terkait tugas dan fungsi direksi, terutama prinsip fiduciary duty sebagaimana mestinya, dengan begitu sekalipun keputusan yang diambil mengakibatkan kerugian bagi BUMN.

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Bradbury, Steven G. "Corporate Auctions and Directors' Fiduciary Duties: A Third-Generation Business Judgment Rule." Michigan Law Review 87, no. 1 (October 1988): 276. http://dx.doi.org/10.2307/1289151.

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Saddy, André. "Deveres dos administradores, responsabilidades e business judgment rule nas sociedades anônimas estatais." Revista de Direito Econômico e Socioambiental 7, no. 1 (January 1, 2016): 70. http://dx.doi.org/10.7213/rev.dir.econ.socioambienta.07.001.ao04.

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São muitos os deveres dos administradores de empresas públicas e sociedades de economia mista, sendo ponto fundamental o conhecimento dos limites de sua atuação, e suas responsabilidades perante empresa e o poder público. No caso das sociedades anônimas estatais, a Administração Pública possuindo o controle acionário das ações ordinárias que dão direito a voto, busca não só o lucro como qualquer pessoa jurídica de direito privado, mas também a inserção estatal em setores estratégicos da economia. Ocorre que até o presente momento não houve a regulamentação prevista no art. 173, §1º, inc. V da Constituição da República que visa tratar da responsabilidade dos administradores dessas empresas, sendo um setor nebuloso tanto para a doutrina quanto para a jurisprudência, sendo necessário buscar auxílio inclusive em doutrina estrangeira para visualizar os parâmetros de responsabilização dos Diretores e do Conselho de Administração.

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Alkayat Alazemi, Abdullah Ahmed. "Introducing the Business Judgment Rule in Select Countries of the Arabian Gulf." Comparative Law Review 28 (December 13, 2022): 9–39. http://dx.doi.org/10.12775/clr.2022.001.

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Examining the corporate practices of the Gulf Corporation Council (GCC) member states, this paper demonstrates the imperative that GCC nations implement rational board practice models and improve current laws and regulations that pertain to corporate boards of directors. GCC member countries increasingly need to diversify revenue-generating streams; improved corporate board practices are likely to increase income from foreign corporations and investments. Rational board policies protect board members from frivolous challenges related to legal culpability because they operate on a “good faith” model, augmenting corporate growth. Providing a coherent analysis of the business judgment rule, a significant as pect of rational board practices, this paper examines how the rule has worked in the United States and provides a standard for GCC countries to emulate. Shifting domestic policies to this rational model will promote foreign investments and result in financial stability, benefits that current reform practices initiated by the GCC have not yet accomplished.

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Panjaitan, Robin, Martono Anggusti, and Roida Nababan. "PENERAPAN PRINSIP BUSINESS JUDGMENT RULE TERHADAP DIREKSI YANG MELAKUKAN KEBIJAKAN YANG MERUGIKAN PERUSAHAAN." Jurnal Hukum PATIK 10, no. 1 (April 24, 2021): 1–14. http://dx.doi.org/10.51622/patik.v10i1.217.

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Penelitian ini ditujukan untuk memahami penerapan business judgement rule pada direksi yang menjalankan fungsi pengurusan Perseroan dan Perlindungan Hukum terhadap direksi dalam pengurusan perusahaan melakukan kebijakan yang merugikan perusahaan dikaitkan pada Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas. Penelitian ini merupakan penelitian yuridis normatif dengan metode pendekatan penelitian terhadap pendekatan perundang-undangan. Sumber data berdasarkan data primer, sekunder dan tersier yang dianalisis secara yuridis deskriftif. Hasil penelitian menunjukkan bahwa penerapan Business Judgement Rule memberikan perlindungan hukum bagi direksi dan pejabat perseroan dari pertanggungjawaban atas setiap kebijakan atau keputusan bisnis atau transaksi yang mengakibatkan kerugian bagi perseroan, selama kebijakan atau keputusan bisnis atau transaksi tersebut dilakukan dengan itikad baik, penuh kehati-hatian, serta dalam lingkup tanggung jawab dan wewenangnya

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Kim, Young-Kook. "A Study on the Legal Policy for the Legislation of Business Judgment Rule." Sogang Journal of Law and Business 11, no. 1 (April 30, 2021): 211–48. http://dx.doi.org/10.35505/sjlb.2021.4.11.1.211.

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Journal articles on the topic 'Business judgment rule'

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