A heavily debated topic, the evolution of shareholders’ duties risks the transformation of the very concept of shareholder primacy, crucially associated with shareholder rights. Offering a distinctive and comprehensive examination of both current and forthcoming enforcement mechanisms in the area of shareholder duties, this timely book provides an exhaustive analysis of the many issues related to these mechanisms, and considers the ongoing challenges surrounding their implementation.
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Company Law Beyond Law and Economics
This stimulating book offers an astute analysis of corporate governance from both a historical and a philosophical point of view. Exploring how the modern corporation developed, from Ancient Rome and the Middle Ages up to the present day, Javier Reyes identifies the strengths and weaknesses of the mainstream theory of the firm as put forward by the law and economics school of thought.
Legal-Political and Economic Views
The shift from managerial capitalism to investor capitalism, dominated by the finance industry and finance capital accumulation, is jointly caused by a variety of institutional, legal, political, and ideological changes, beginning with the 1970s’ downturn of the global economy. This book traces how the incorporation of businesses within the realm of the state leads to both certain benefits, characteristic of competitive capitalism, and to the emergence of new corporate governance problems emerges. Contrasting economic, legal, and managerial views of corporate governance practices in contemporary capitalism, the author examines how corporate governance has been understood and advocated differently during the New Deal era, the post-World War II economic boom, and the after 1980 in the era of free market advocacy.
The Relational Corporate Governance Approach
Francesco de Zwart
This important book presents a fresh perspective on corporate governance and how the relationship between governance mechanisms, processes and variables should be understood through a new unifying theory: the relational corporate governance approach. The approach acts as a tool for analysing the governance health of individual companies and suggests the actions required to remedy sub-optimal governance arrangements. A wide selection of articles, empirical studies and literature have been translated into an original theory which complements existing law and economics models of the firm.
Edward J. Balleisen
This extensive research review conveys the leading scholarly ideas on modern regulatory governance since 1871. The review lays out the rationales for and critiques of technocratic governance in industrialized societies. It traces the evolution of regulatory institutions, highlighting the most recent era of globalization, deregulation, privatization and regulatory innovation before examining influential frameworks for understanding regulatory culture in action, assessing the impacts of regulatory policies, and explaining regulatory change.
Edited by Wesley Cragg
Topics discussed include the debates leading to the creation of the ISO 26000 standard and the United Nations human rights framework for business entities, as well as the nature and limits of the human rights responsibilities of business, the roles and responsibilities of international trade bodies like the World Trade Organization in protecting human rights, and the implications of the current debate for international trade agreements and trade with China. The contributors also explore the effectiveness of voluntary human rights standards in the textile and clothing trade, mining, advertising and the pharmaceutical industries.
Edited by Randall S. Thomas and Jennifer G. Hill
Research on executive compensation has exploded in recent years, and this volume of specially commissioned essays brings the reader up-to-date on all of the latest developments in the field. Leading corporate governance scholars from a range of countries set out their views on four main areas of executive compensation: the history and theory of executive compensation, the structure of executive pay, corporate governance and executive compensation, and international perspectives on executive pay.
Edited by P. M. Vasudev and Susan Watson
The financial crisis of 2008–09 raises questions about the assumptions that underpin corporate governance. Shareholder value and private ordering may not in fact be the best means of promoting efficiency and corporate responsibility and the mechanisms used to ensure management accountability may not be effective. In this fascinating study, experts from around the world draw on the experience of the financial crisis to explore topical issues ranging from shareholder primacy and the corporate objective to the stakeholder principle, business ethics, and globalization of corporate governance principles. The chapters are provocative, acknowledging that our understanding of fundamental questions of corporate governance is still developing and demonstrating that the corporate governance debate is far from over.
Brian R. Cheffins
This research review is a unique resource for those seeking an historical overview of the development of corporate governance. The papers trace the evolution of US corporate governance from the time when the subject became prominent in the 1970s to the present day. Topics canvassed include the board of directors, executive pay, shareholder activism and the regulatory structure that shapes corporate governance in the US. The primary focus is on the governance challenges posed by the separation of ownership and control, a hallmark of larger US public companies.
This research review is an authoritative selection of the most important papers investigating the complex and controversial issue of governance and executive compensation. Professor Forbes includes seminal material on the history, rationale and prospects for executive pay and its impact upon corporate performance.