..., 1999). They argued that corporate law in the USA separates the board of directors from the shareholders. But directors are neither agents of shareholders nor controllers. Instead, business corporations are seen as the locus of team production, intended to produce a “collective output”, which...

... in after the end of the conflict and the uncertain external environment they had to engage with. The article also examines the stagnant nature of armaments companies’ boards of directors in the 1920s and the ultimate rationalisation of the industry at the close of the decade. Design/methodology/approach...