Corporate Limited Liability Conference 20th & 21st July

The conference brings together speakers from many different parts of the world and from multi-disciplinary academic and intellectual backgrounds to discuss the role of corporate limited liability in the context of contemporary globalization. Corporate limited liability ahs been a controversial topic since the inception of modern political economy, starting with Adam Smith. Hotly debated in the 19th and early 20th centuries, it has gained the status of a near-untouchable dogma only relatively recently, with corporate powers at their peak. Today, the main focus of the debate about corporate power is the promotion of voluntary reforms directed at an enhanced 'corporate social responsibility'. Yet, the fast spreading recognition by leading organisations in the field, such as Save the Children and Christian Aid, of the total ineffectiveness of this approach has reignited the debate about corporate regulation and legal accountability. Limited liability is at the heart of this debate.

The conference will seek discussion and anwers to questions such as: Is limited liability the key to 'power without responsibility' for giant corporations or is it an indispensable incentive to encourage innovation and technology transfer in a global market economy? How compatible is the principle of limited liability with the basic democratic principle of the equality of all before the law? Can limited liability be reconciled with the requirement of corporate accountability to society and before the law? What use do large multinational companies make of new forms of limited liability and what is the case for civil and criminal group liability? What would be the effect of unlimited liability on the finance strategies of private equity firms?

Core issues addressed at the conference include:

* The historical origins and development of joint stock companies and limited liability
* Recent developments in limited liability legislation, e.g. the role of limited liability partnerships
* Limited liability and multinational companies: the role of group liability
* Private equity and limited liability
* States sovereing immunity and corporate sovereign immuntiy
* The voluntary approach to corporate social responsibility and limited liability issues
* Limited liability and the environment
* Limited liability in emerging markets and developing countries, eg. China and India
* The role of limited liability companies in public private partnerships
* Business without limited liability
* Reform strategies: Restoring accountability in law, the balance of special interest privileges, the role of insurance schemes


Selected papers and contributions to the conference will be published in a Special Issue of the Cambridge Journal of Economics and in a volume of conference proceedings.