Managers' Fiduciary Responsibility Regarding the Company's Financial Information

Document Type : Research Article

Authors

1 Institute for Management and Planning Studies (IMPS) Tehran, Iran

2 Private Law, Institute for Management and Planning studies (IMPS) Tehran, Iran

Abstract

In this article, an attempt is made to explain the various aspects of the Company managers' use of the beneficiaries of the information they have because of their managerial position and Iran legal shortcomings in the light of fiduciary responsibilities of managers. For this reason, first, the legal bases of board of directors responsibility in commercial companies are explained. Then, the types of fiduciary requirements of managers in commercial companies and approaches to fiduciary responsibility are also examined. In the following, it lists the guarantee of implementation of the use of financial information. According to the author, non-abuse of information is also part of the fiduciary requirements, and managers as company employees must return to the company any use they have received from exercising management powers. For this reason, the purpose of examining this issue is the pathology of Iran's legal system regarding the fiduciary responsibility of managers.

Keywords

Main Subjects

References

اسکینی، ربیعا (۱۳۹۸). حقوق تجارت: شرکت‌های تجاری ج ۲. تهران: سمت..
بادامچی، حسین (۱۳۹۲). قانون حمورابی (با ترجمة متن اکدی). نگاه معاصر.
الزرکشی، بدرالدین محمد بن عبدالله بن بهادر الشافعی (١٤٠٥ ق/ ١٩٨٥ م). المنثور فى القواعد. الطبعه الثانیه. وزاره الأوقاف الکویتیه طباعه شرکه الکویت للصحافه.
صادقی‌نشاط، امیر و شعبانی کندسری، هادی (۱۳۹۵). اعتبار محدودیت اختیارات مدیران و مدیرعامل شرکت‌های سهامی؛ نقد رویة قضایی. پژوهشنامة بازرگانی، ۸۰، ۴۵ ـ ۷۳.
عباسی، مجید؛ صغیری، اسماعیل و پاشازاده، حسن (۱۳۹۶). جایگاه نظریة مسئولیت استردادی در فقه امامیه. پژوهش‌های فقه و حقوق اسلامی، ۵۰، ۱۱۳ ـ ۱۴۶.
عمیدزنجانی، عباس‌علی (۱۳۹۱). قواعد کلی عقود کتاب البیع و المتاجر. تهران: خرسندی.
عیسایی تفرشی، محمد (۱۳۷۸). مباحثی تحلیلی از حقوق شرکت‌های تجاری. تهران: انتشارات دانشگاه تربیت مدرس.
فاضل لنکرانی، محمدجواد (۱۳۹۶). ضمان انخفاض قیمه النقد. محرر: احسان عابدین‌پور. محقق: مرکز فقهی ائمه اطهار(ع). قم: مرکز فقه الائمه الأطهار.
 فاضل لنکرانی، محمدجواد (۱۳۹۶). مکاسب محرمه. محرر: محسن برهان‌مجرد و سلمان علوی و محسن بوالحسنی. قم: مرکز فقهی ائمه اطهار(ع)، معاونت پژوهشی.
کاتبی، حسین‌قلی (۱۳۸۹). حقوق تجارت. تهران: گنج دانش.
محقق‌داماد، مصطفی (۱۳۸۴). قواعد فقه (بخش مدنی ـ مالکیت و مسئولیت). تهران: مرکز نشر علوم اسلامی.
مهدیان، امیرحسین؛ فلاح، اکبر و فقیهی، علی (۱۴۰۰). بررسی فقهی وکالتی بودن جایگاه مدیران در شرکت‌های سهامی خاص (قانون تجارت ایران). مطالعات فقه اقتصادی، ۵، ۲۶۳ ـ ۲۸۱.
نصیری، مرتضی (۱۳۸۲). مبانی حقوقی تأمین اجتماعی در ایران. مؤسسه عالی پژوهش تأمین اجتماعی.
نصیری، مرتضی  (۱۳۸۳). حقوق تجارت بین‌المللی در نظام حقوق ایران. تهران: امیرکبیر.
نعمت‌اللهی، اسماعیل. استرداد عوض به‌ عنوان شیوة جبران نقض قرارداد در کامن لا و حقوق ایران. پژوهش‌های حقوق تطبیقی، ، ۴، ۱۶۹ ـ ۱۹۷.
نیک‌نژاد، جواد (۱۳۹۰). جایگاه حقوقی مدیران شرکت‌های سهامی در فقه، حقوق ایران، و انگلستان. پژوهش‌های فقه و حقوق اسلامی، ۲۵، ۱۶۹ ـ ۲۰۰.
Abbasi, M., Saghiri, E., & Pashazadeh, H. (2017). The Position of the Theory of Restitutionary Responsibility in Imamiyyah Jurisprudence. Islamic Jurisprudence and Law Research Quarterly, Year 14, No. 50, 113-146. (in Persian)
Amid-Zanjani, A.A. (2012). General rules of contracts of Kitab Al-Bai and Al-Matajer. Tehran: Khorsandi. (in Persian)
Badamchi, H. (2012). Hammurabi's law (with the translation of the Akkadian text). negah-e-moaser. (in Persian)
Birks, P. (2000). Lionel Cohen Lecture: The Content of Fiduciary Obligation. Israel Law Review. Vol. 34, Issue 1, 3-38.
Conaglen, M. (2010). Fiduciary Loyalty: Protecting the Performance of Non-fiduciary Duties. London: Hart Publishing.
Fazel Lankarani, M.J. (2017). Guaranteeing The Reduction of The Price of Money. Edited by Ehsan Abedinpour. Researcher of the Jurisprudence Center of the Athar Imams. Qom: Fiqh Center of the Imams of the Athar. (in Persian)
------------------------- (2017). Makasab Mahrameh. Edited by Mohsen Burhan-Majard and Salman Alavi and Mohsen Boalhasani. Qom: Jurisprudence Center of Imams Athar. Research assistant. Vol. 2. (in Persian)
Finn, P. (2016). Fiduciary Obligations. Australia: The Federation Press.
Gelter, M. & Helleringer, G. (2018). Fiduciary Principles inEuropean Civil Law Systems. ECGI.
Getzler, O. J. (2006). Inconsistent Fiduciary Duties and Implied Consent. Law Quarterly Review.122
Goode, R. (2011). Proprietary Liability for Secret Profits: a Reply. The Cambridge Law Journal, 70(3).
Heydon, D. (2014). Modern fiduciary liability: the sick man of equity?. Trusts & Trustees, Vol. 20, Issue 10, 1006–1022.
Hudson, A. (2017). Equity and Trusts. London: Routledge.
Isaiai Tafarshi, M. (2000). Analytical Discussions of the Laws of Commercial Companies. Tehran: Tarbiat Modares University Publications. (in Persian)
Katbi, H.Q. (2009). Business Law. Tehran: Ganj Danesh Publications. (in Persian)
Lim, E. (2015). Contracting out of fiduciary duties. Common Law World Review, 44(4), 276–297.
Mahdian, A.H., Fallah, A., & Faqihi, A. (2021). Jurisprudential examination of the position of managers in private joint-stock companies (Iranian Commercial Law). Economic Jurisprudence Studies Quarterly, No. 5, 263-281. (in Persian)
McKendrick, E. (2012). Contract Law Text, Cases, and Materials. Fifth Edition. Oxford University Press.
Millett, P. (2012). Bribes and Secret Commissions Again. The Cambridge Law -Journal, 71(3).
Mohaghegh-Damad, M. (2005). Jurisprudence Rules (Civil Section - Ownership and Responsibility). Tehran: Islamic Sciences Publishing Center. (in Persian)
Nasiri, M. (2012). Legal Foundations of Social Security in Iran. Higher Institute of Social Security Research. (in Persian)
-Nasiri, M -. (2013). International Trade Laws in Iran's Legal System. Tehran: Amir Kabir Publications. (in Persian)
Nematollahi, I. (2011). Restitution of Awad as a method of compensation for breach of contract in common law and Iranian law. Comparative Law Research Quarterly. Vol. 24, No. 4. (in Persian)
Niknejad, J. (2011). The legal position of directors of joint stock companies in jurisprudence, Iranian, and English law. Islamic Jurisprudence and Law Research Quarterly, Year 7, No. 25, 169-200. (in Persian)
Nolan, RC. (1997). A Fiduciary Duty to Disclose?. Law Quarterly Review, 113,220–242.
Norwood, P. & Beveridge, Jr. (1992). The Corporate Director 's Fiduciary Duty of Loyalty: Understanding the Self-Interested Director Transaction. DePaul Law Review, 41, 655-682.
Ruder, D. (1985). Duty of Loyalty—A Law Professor's Status Report. The Business Lawyer, 4, 1383-1402.
Sadeghi-Neshat, A. & Shabani Kandsari, H. (2015). Validity of limited powers of managers and CEOs of joint-stock companies; Criticism of judicial practice. Commercial Research Quarterly, No. 80, 45-73. (in Persian)
Saidov, D. (2008). The Law of Damages in International Sales. The CISG and other International Instruments. Oxford and Portland. Oregon.
Sherman, Ch. Ph. (2012). Roman Law in the Modern World. New York: Ulan Press.
Skini, R. (2018). Commercial Law: Business Companies. Samt Publications. Vol. II. (in Persian)
Smith, L. (2013). Constructive Trusts and The No-Profit Rule. The Cambridge Law Journal, 72(2).
Worthington, S. (2013). Fiduciary Duties and Proprietary Remedies: Addressing the Failure of Equitable Formula. The Cambridge Law Journal, 72(3), 720–752.
Al-Zarkashi, Badr Al-Din Muhammad Bin Abdullah Bin Bahader Al-Shafei (1985). Manifested in the Rules. Edition: Second. Kuwaiti Ministry of Awqaf (Printed by Kuwait Press Company). (in Arabic)
Private Law
Volume 20, Issue 1
Spring & Summer
April 2023
Pages 167-179

Files

Share

How to cite

Statistics