You are looking at 1 - 8 of 8 items

  • Author or Editor: John Turner x
Clear All Modify Search
You do not have access to this content

Paul Beavis, John A. Black, James Lennox, Graham M. Turner and Stephen J. Moore

You do not have access to this content

Martin Rein and John Turner

This content is available to you

Edited by Thankom Gopinath Arun and John Turner

This content is available to you

Edited by Thankom Gopinath Arun and John Turner

You do not have access to this content

Corporate Governance and Development

Reform, Financial Systems and Legal Frameworks

Edited by Thankom Gopinath Arun and John Turner

This book analyses the complex relationship between corporate governance and economic development by focusing on the reform of corporate governance, the role of the legal system, and the interconnections with the financial system.
You do not have access to this content

John D. Turner

Chapter 5 charts the growth of English company law from the fifteenth to the nineteenth centuries, showing how company law only slowly came to offer businesses all five of the characteristics generally identified as marking the modern company or corporation: separate legal personality; limited liability; transferable joint stock; delegated management; and investor ownership. In this account, it is particularly notable that England went through its Industrial Revolution without the freedom of incorporation and with a legal framework which actually restricted the development of business corporations. While at times English law and politics were amenable to the corporate form, for much of the eighteenth and even into the nineteenth century statutory and common law were inhospitable to widespread incorporation, only changing in the nineteenth century when the rising political power of the middle classes ultimately pushed Parliament to liberalize incorporation law. Contra some arguments that the common law is inherently flexible and responsive to new business opportunities, this is an account in which the common law did not facilitate growth, and in which easy access to incorporation only followed political agitation and legislative intervention.