The position of the business judgment rule in different corporate cultures and structures: A study and analysis

The American courts developed business law by devising principles for resolving the rift between shareholders and the management. An important principle in this respect is the Business Judgment Rule (BJR). The BJR has attained an important position in the American corporate law. However, it has failed to find such position in the laws of other jurisdictions.; In the current era, when different economies are integrating into a global market, corporations are forming global alliances. This thesis will study the role of the BJR in global alliances by examining the case of the Star Alliance as an example. It will focus in particular on the position of the BJR in the interplay of different corporate structures and cultures. The thesis will review corporate cultures of Germany and Japan. It will conclude that the BJR's importance is growing and finding place in jurisdictions other than America.