Critique of shareholder status in Jordanian corporate law : a comparative approach

In 1989, Jordan chose to follow the track of democracy and open economy. From that time on, Jordan has embarked upon plans to reform its legal as well as economic and social structures. Continuous and serious efforts have been underway to enable Jordan to join the WTO (World Trade Organization) and become part of the new "economic global village". Many observers see this as a step to help Jordan materialize these plans and to help put it on a road that will inevitably lead to more freedom of choice and more competitiveness.Opening the national markets means exposing the domestic industry and market to foreign competitors. In order to preserve the domestic economic and social fabrics, local industries have to gain the maximum efficiency and market width possible or they will go under. Such efficiency and investors' inducement can and should be encouraged through providing a "liberal" legal framework. Such a framework, applied to the field of corporate law, can impose market control over management's inefficiency, and give businesses the diversity they need to attract investors