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| Author: | Black, B. Cheffins, B. Klausner, M. |
| Title: | Liability risk for outside directors: a cross-border analysis |
| Journal: | European Financial Management
2005 : MAR, VOL. 11:2, p. 153-171 |
| Index terms: | Corporate governance Top management |
| Language: | eng |
| Abstract: | This article examines the risky legal environment in which outside directors of public companies operate. The findings, however, report that directors fears are largely unjustified. Nominal liability rarely turns into out-of-pocket liability, in which the directors pay personally damages or legal fees. Instead, damages and legal fees are paid by the company, insurance, or both. |
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