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    Shareholder primacy and the trajectory of UK corporate governance

    Armour, J. and Deakin, S. and Konzelmann, Suzanne J. (2003) Shareholder primacy and the trajectory of UK corporate governance. Working Paper. ESRC Centre for Business Research, Cambridge, UK.

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    Abstract

    Core institutions of UK corporate governance, in particular those relating to takeovers, board structure and directors’ duties, are strongly orientated towards a norm of shareholder primacy. Beyond the core, in particular at the intersection of insolvency and employment law, stakeholder interests are better represented, thanks to European Community influence. Moreover, institutional shareholders are redirecting their investment strategies away from a focus on short-term returns, in such a way as to favour stakeholder-inclusive practices. We therefore suggest that the UK system is currently in a state of flux and that the debate over shareholder primacy has not been concluded.

    Metadata

    Item Type: Monograph (Working Paper)
    Keyword(s) / Subject(s): corporate governance, stakeholding, hostile takeovers, company law, insolvency, employee representation, shareholder activism
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Management
    Research Centre: Corporate Governance and Ethics, London Centre for
    Depositing User: Suzanne Konzelmann
    Date Deposited: 18 Jan 2013 09:17
    Last Modified: 09 Dec 2016 11:07
    URI: http://eprints.bbk.ac.uk/id/eprint/5855

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