A Comparative Study of Independent Directors in American and Iranian Corporate Law

Document Type : Research Paper

Authors

1 Allameh Tabataba'i University

2 Allameh Tabataba'i University. tehran. iran

Abstract

Nowadays, independent directors are one of the most important institutions of good corporate governance, have progressed from doctrinal stage into a dominated concept in corporate law. Therefore, corporate governance laws in the United States have proposed the use of independent directors in the composition of the board of directors, based on the protection of the rights of the dispersed shareholders against the extravagance of management and the strength of internal supervision in the company. In terms of business and family relationships, these directors are independent of the company and its management, and while avoiding conflicts of interest, they act more fairly in their decisions and in their supervision over the management of the company. On the one hand, this institution has grown rapidly and has become a global standard On the other hand, through the corporate governance guidelines of the stock exchange and securities organization and the bill for protection of mnority shareholders, it is also penetrating the Iranian Companies Law. Therefore, the present study has tried to analyze the various aspects of the emergence of independent directors for the first time by considering the American law in Iranian law using the analytical-descriptive method. In this way, while analyzing the legal documents, the basis for the acceptance and functioning of the independent directors of the existing shortcomings, along with the proposed amendments, is reminded

Keywords



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