Reflexive law and section 172 narrative reporting: reconciling utility and responsibility?

The economic success of the shareholder primacy model has dominated UK company law and imposed a strong allegiance to the shareholder value principle as a primary measure of utility. In contrast, concerns about human, environmental and labour rights violations from corporate activities have given rise to a large body of evidence of corporate irresponsibility, which is detrimental to a wide range of stakeholders. These concerns are also central to the legal regulation of corporations in ways which the traditional paradigm, which externalises stakeholder responsibility, has been unable to address adequately.