RETHINKING CORPORATE GOVERNANCE THE LAW AND ECONOMICS OF CONTROL POWERS ROUTLEDGE RESEARCH IN CORPORATE LAW

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Rethinking Corporate Governance

Author : Alessio Pacces
ISBN : 9781135099411
Genre : Law
File Size : 78.20 MB
Format : PDF
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The standard approach to the legal foundations of corporate governance is based on the view that corporate law promotes separation of ownership and control by protecting non-controlling shareholders from expropriation. This book takes a broader perspective by showing that investor protection is a necessary, but not sufficient, legal condition for the efficient separation of ownership and control. Supporting the control powers of managers or controlling shareholders is as important as protecting investors from the abuse of these powers. Rethinking Corporate Governance reappraises the existing framework for the economic analysis of corporate law based on three categories of private benefits of control. Some of these benefits are not necessarily bad for corporate governance. The areas of law mainly affecting private benefits of control – including the distribution of corporate powers, self-dealing, and takeover regulation – are analyzed in five jurisdictions, namely the US, the UK, Italy, Sweden, and the Netherlands. Not only does this approach to corporate law explain separation of ownership and control better than just investor protection; it also suggests that the law can improve the efficiency of corporate governance by allowing non-controlling shareholders to be less powerful.
Category: Law

Rethinking Corporate Governance In Financial Institutions

Author : Demetra Arsalidou
ISBN : 9781134499267
Genre : Law
File Size : 29.42 MB
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There are many deep-seated reasons for the current financial turmoil but a key factor has undoubtedly been the serious failings within the corporate governance practices of financial institutions. There have been shortcomings in the risk management and incentive structures; the boards’ supervision was at times weak; disclosure and accounting standards were in some cases inadequate; the institutional investors’ engagement with management was at times insufficient and, last but not least, the remuneration policies of many large institutions appeared inappropriate. This book will provide a critical overview and analysis of key corporate governance weaknesses, focusing primarily on three main areas: directors’ failure to understand complex company transactions; the poor remuneration practices of financial institutions; and, finally, the failure of institutional investors to sufficiently engage with management. The book, while largely focused on the UK, will also consider EU and Australian developments as well as offering a comparative angle looking at the corporate governance of financial institutions in the US.
Category: Law

Behavioural Risks In Corporate Governance

Author : Ngozi Vivian Okoye
ISBN : 9781317701408
Genre : Business & Economics
File Size : 85.69 MB
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Recent cases of corporate failures, including the fixing of LIBOR rates and money laundering issues in the banking industry, highlight how behavioural issues on the part of company directors are significant contributory factors in corporate governance and the success or failure of companies. This book examines how personality and behavioural issues have contributed to major corporate failures, and how this risk may be managed. The book examines behavioural risks in corporate governance, and evaluates the extent to which risk management mechanisms have acknowledged various aspects of behaviour. Drawing from cases in the UK, the US and Australia and research in psychology and the behavioural sciences, Ngozi Vivian Okoye argues that current corporate governance mechanisms lack provision for identifying and managing personality risks, and suggests how constituent elements of behaviour should be engaged with when developing preventive mechanisms for corporate failures. Okoye presents a conceptual framework for identifying and managing personality risks, and explores how personality risk may be built into corporate governance regulation. The book will be of great use and interest to researchers and practitioners in business and company law, corporate governance, and critical management studies.
Category: Business & Economics

The Enlightened Shareholder Value Principle And Corporate Governance

Author : Andrew Keay
ISBN : 9781136251634
Genre : Law
File Size : 44.81 MB
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The enlightened shareholder value principle (ESV) was formulated during the comprehensive review of UK company law by the Company Law Steering Group in the late 1990s and early 2000’s and requires directors of companies to act in the collective best interests of shareholders. The principle was taken up by the then UK Government and is now embedded in the Companies Act 2006. The emergence of the principle constitutes an important development in corporate governance, particularly in determining what directors must consider when managing the affairs of their companies. This book explains and analyzes the nature of ESV and its contribution to corporate governance whilst also examining where it fits into the existing theoretical landscape. Andrew Keay traces the development of the principle of ESV and considers it in the context of the existing principles which have historically influenced corporate governance. In doing so, the book draws on several empirical studies thereby enabling us to gauge how the ESV principle is addressed in commercial practice. Keay goes on to compare ESV with the constituency statutes that apply in the US in order to determine whether anything can be learnt from the American experience. The book also assesses the reaction of other jurisdictions to the advent of ESV and considers what impact ESV will have on financial institutions and non-financial institutions in the aftermath of the global financial crisis.
Category: Law

Fundamentals Of Corporate Governance

Author : Thomas Clarke
ISBN : IND:30000126585938
Genre : Business & Economics
File Size : 90.67 MB
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Fundamentals of Corporate Governance assembles definitive work by leading international scholars in the field of corporate governance from the United States, UK, Europe, Asia, and Australia. The editors provide an illuminating focus on the mechanisms and institutions of corporate governance. Each of the four volumes address a major theme, examine historical and current debates, analyze research findings, and project policy development.
Category: Business & Economics

Rethinking The Liberal Peace

Author : Shahrbanou Tadjbakhsh
ISBN : 9781136740473
Genre : Political Science
File Size : 59.25 MB
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This book presents a critical analysis of the liberal peace project and offers possible alternatives and models.
Category: Political Science

Crossing Boundaries

Author : Austin Sarat
ISBN : 0810114380
Genre : Law
File Size : 88.39 MB
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Perhaps no idea is more emblematic of the field of law and society than crossing boundaries. From the founding of the Law and Society Association in the early 1960s, participating scholars aspired to create a field that crossed boundaries in at least two senses: by undertaking research that questioned and often bridged traditional methodological and disciplinary divisions, and by using nontraditional approaches to explore the interconnections between law and its social context. The essays in this book reflect both of these aspirations.Readers of this volume will find extended reflections on the practice of sociolegal research and the issues raised by the attempt to create an interdisciplinary field of study, as well as numerous examples of law and society scholarship which probe, transform, challenge, or bridge the boundaries between law and the social and cultural settings in which it operates.
Category: Law

Routledge Handbook Of Regionalism Federalism

Author : John Loughlin
ISBN : 9781136727696
Genre : Political Science
File Size : 77.23 MB
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Almost all states are either federal or regionalized in some sense. It is difficult to find a state that is entirely unitary and the Routledge Handbook of Regionalism and Federalism necessarily takes in almost the entire world. Both federalism and regionalism have been subjects of a vast academic literature mainly from political science but sometimes also from history, economics, and geography. This cutting edge examination seeks to evaluate the two types of state organization from the perspective of political science producing a work that is analytical rather than simply descriptive. The Handbook presents some of the latest theoretical reflections on regionalism and federalism and then moves on to discuss cases of both regionalism and federalism in key countries chosen from the world’s macro-regions. Assembling this wide range of case studies allows the book to present a general picture of current trends in territorial governance. The final chapters then examine failed federations such as Czechoslovakia and examples of transnational regionalism - the EU, NAFTA and the African Union. Covering evolving forms of federalism and regionalism in all parts of the world and featuring a comprehensive range of case studies by leading international scholars this work will be an essential reference source for all students and scholars of international politics, comparative politics and international relations.
Category: Political Science