Description
Bloomsbury Publishing PLC Responsible Business: Self-Governance and Law in Transnational Economic Transactions by Edited by Olaf Dilling Edited by Martin Herberg Edited by Gerd Winter
With the globalisation of markets the phenomenon of market failure has also been globalised. Against the backdrop of the territoriality of nation state jurisdictions and the slow progress of international law based on the principle of sovereignty this poses a serious challenge. However while the legal infrastructure of globalised markets has a firm basis in formal national and international law the side effects of economic transactions on public goods such as the environment human health and consumer interests often escape state-based regulation. Therefore attention is drawn to the potential of self-regulation by transnational industry. While hypotheses abound which try to grasp this phenomenon in conceptual terms both empirical and legal research is still underdeveloped.This volume helps to fill this gap in two ways: firstly by reconstructing self-regulatory settings such as multinational corporations transnational production networks and industry-NGO partnerships in terms of organisation problem-solving and legitimation and secondly by linking their empirical findings to formal law by examining how legal concepts are reflected in self-regulation how the law builds on self-regulatory solutions and how it helps to establish favorable conditions for private governance.show more