Abstract:Evolutions in corporate law recently introduced an optional commitment mechanism in the corporate contract: a purpose. Its writing is a pivotal but is yet puzzling from a design perspective. Especially it raises questions about how that could help shaping a responsible governance model for innovation. Our paper builds on an extended-decision framework to propose a formal model of how a stated-purpose shapes the decision situation. Our results highlight several purpose formulation strategies and finally a typol… Show more
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