Governing the Corporate Citizen: Reflections on the Role of Professionals

This chapter explores the nature of the potential, and identifies some of the issues involved in determining the degree to which that potential is realized. It introduces some remarks about the term 'corporate citizenship', outlines the position to be taken for the purposes of the argument being presented, and presents corporate citizenship to corporate governance. The chapter reviews the nature of professions, examines the debate over whether professions can be trusted to serve the public interest and suggests that professions can vary in the degree to which they fulfil their social potential. It outlines the essential features of John Coffee's analysis of professional 'gatekeepers' to the corporate governance process. The chapter discusses the value of his work and relates it to an appreciation of the nature of professions. It argues that, whatever corporate citizenship is normatively held to entail, sound governance is necessary.