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Derivative Actions and Corporate Governance$
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Arad Reisberg

Print publication date: 2007

Print ISBN-13: 9780199204892

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780199204892.001.0001

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A Proposed Model for Derivative Actions: the Functional and Focused Model (FFM)

A Proposed Model for Derivative Actions: the Functional and Focused Model (FFM)

Chapter:
(p.167) 5 A Proposed Model for Derivative Actions: the Functional and Focused Model (FFM)
Source:
Derivative Actions and Corporate Governance
Author(s):

Arad Reisberg

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199204892.003.0006

This chapter develops a model to analyse and explain the use of the derivative action referred to as the Functional and Focused Model (FFM). It is organized in two parts. Part A provides the setting. Section 5.2 discusses the role of derivative actions in the corporate governance matrix. Section 5.3 then discusses the specific role that the derivative action may play in such a constantly changing system. The various points teased out throughout the preceding discussion are finally crystallized in Part B of the chapter. First, section 5.4.1 sets out the aims of the model, followed by an outline and the policy premises underlying the FFM. Section 5.4.2 then unearths and illuminates the value of deterrence against corporate misconduct. Section 5.4.3 considers strategies that can be pursued to reverse the negative effects of those forces that weaken the social meaning of derivative actions. Subsequently, these key characteristics are reduced to practical recommendations in Section 5.4.4.

Keywords:   Functional and Focused Model (FFM), aims, policy, characteristics, recommendations

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