From "too big to be governed" to "not too big to be responsible"?

Abstract

This chapter addresses the question whether a corporation that is considered “too big to be governed” might also be “too big to be responsible”. In today’s day and age, a large multinational company’s finances may exceed the finances of a (small) country. Such a firm’s economic position in principle means “power”. In the meantime, the business operations and the societal position of these companies can affect people and planet. In light of this, the aim of this chapter is to find out if “economic power” is an argument to hold large listed companies (LLCs) liable under private law and/or criminal law for violations of local and international norms that protect people and planet. The central question is twofold: Can “economic power” provide for a legal basis for holding LLCs responsible for fundamental rights protection, and if so, how? And, subsequently, can LLCs be held liable both under private law and criminal law for not taking responsibility for fundamental rights protection? To answer these questions, attention will be paid to the concepts of LLCs and “economic power”, to the position that the use of economic power establishes responsibility, to the duty of care as a potential vehicle to transform responsibility into liability, and more concrete to civil and criminal liability in these cases, respectively.