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Scholars have called for the federal government to enact legislation to restore directors' duties as owed to the corporation, considering only the interests of shareholders. This is known as the shareholder primacy model. This thesis counters such criticism and argues for the emergence of an interdisciplinary model, in which shareholder primacy is relegated in favour of team production theory. This thesis dispels the theory that the business judgment rule can protect directors who do not consider the interests of multiple stakeholders, which has been argued to be a shield to protect shareholder primacy in Canada. Shareholder primacy is no longer a feasible corporate governance model in the 21st century. The interest of the corporation must include not only shareholder wealth maximization, but also other interests involving the corporation’s expanded liabilities under human rights laws, environmental laws, labour standards laws, and insolvency laws, thus benefiting multiple stakeholders of the corporation.

Accountability of Corporate Management: Analysing the Fiduciary Duty in Corporate Law