-
Journal menu
- General information
- Editorial Board
- Instructions for authors
- Paper reviewing
- Publication Ethics and Malpractice Statement
- Journal Policies
- Article Processing Charge
- Order hard copies of the journal (for institutions)
- Order hard copies of the journal (for individuals)
- Feedback from stakeholders
- Journal’s Open Access Statement
The strategic evolution of the corporate legal framework
Download This Article
Subhajit Chakraborty, Rajdip Bhadra Chaudhuri 
, Sarbani Bhowmik, Aditya Ghosh, Avik Banerjee , Shibayan Chattopadhyay
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
The purpose of a company has elongated to be a central concern in corporate law, traditionally focused on identifying its primary beneficiaries. Modern views, however, redefine corporate purpose as a dynamic mission statement that unites stakeholders, fosters innovation, and enhances loyalty. This shift is reflected in regulatory frameworks like the UK’s Corporate Governance Code, which mandates that boards articulate the company’s purpose. The research aims to examine the importance of legal protections to preserve a company’s purpose from shareholder pressures that could compromise its mission (Annesi et al., 2025). The paper addresses theoretical criticisms and stresses the role of corporate law in supporting objective-driven initiatives. The paper adopts a doctrinal approach to demonstrate the significance of companies’ purposes (Roe & Vatiero, 2018). It emphasizes that in regions where legal structures and market practices avert the creation of such a protective space, the financial and social benefits of mission-driven corporations will be inaccessible, as their purpose liquefies into the ordinary or simply assists as a marketing strategy. The paper concludes that intricacies and dynamism of modern corporations demands a wider and more elastic understanding of companies’ purpose, one that exceeds obstructive financial purposes to hold inclusive and justifiable entrepreneurship.
Keywords: Purpose, Corporate Governance, Marketing, Accounting, Financial Metrics
Authors’ individual contribution: Conceptualization — S.Chakr. and R.B.C.; Methodology — S.Chakr., S.B., and A.B.; Resources — S.Chakr., A.G., and S.Chatt.; Investigation — S.Chakr., R.B.C., and A.G.; Writing — Original Draft — S.Chakr., R.B.C., and A.B.; Writing — Review & Editing — S.B., A.B., and S.Chatt.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: J3, M3, M4
Received: 08.05.2024
Accepted: 25.02.2025
Published online: 27.02.2025
How to cite this paper: Chakraborty, S., Chaudhuri, R. B., Bhowmik, S., Ghosh, A., Banerjee, A., & Chattopadhyay, S. (2025). The strategic evolution of the corporate legal framework. Corporate Law & Governance Review, 7(1), 135–144. https://doi.org/10.22495/clgrv7i1p12
