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Lost from view : the legal invisibility of managers in the UK
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Johnston, Andrew and Segrestin, Blanche (2021) Lost from view : the legal invisibility of managers in the UK. In: Sogner, K. and Colli, A., (eds.) The Emergence of Corporate Governance: People, Power and Performance. Routledge International Studies in Business History . Routledge. ISBN 9780367443344
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Official URL: http://www.routledge.com/9780367443344
Abstract
This chapter explores the evolving relationship between managers, directors, shareholders and companies over the course of the twentieth century. It shows that hard law and soft law have exercised a powerful influence over the way in which companies are managed and governed in the United Kingdom (UK). The chapter examines how changes to industrial activity drove the emergence of managerial authority in UK companies. It argues that the new authority was accommodated within existing legal structures but depended on company-specific arrangements for its continuity. The chapter looks at how those arrangements were undermined and dismantled following changes to UK company law and corporate governance policy from the second half of the twentieth century onwards. It examines the legal changes that contributed to the emergence of the hostile takeover, the pressure from policymakers for companies to have boards dominated by non-executive directors and to align executive incentives with shareholder interests, and finally the recent drive to encourage shareholder engagement.
| Item Type: | Book Item | ||||||
|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HD Industries. Land use. Labor K Law [Moys] > KN Common Law, Private Law |
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| Divisions: | Faculty of Social Sciences > School of Law | ||||||
| Library of Congress Subject Headings (LCSH): | Social responsibility of business , Social responsibility of business -- Law and legislation , Corporation law -- Great Britain, Leadership, Corporate governance -- Law and legislation , Corporate power , Industrial management | ||||||
| Series Name: | Routledge International Studies in Business History | ||||||
| Publisher: | Routledge | ||||||
| ISBN: | 9780367443344 | ||||||
| Book Title: | The Emergence of Corporate Governance: People, Power and Performance | ||||||
| Editor: | Sogner, K. and Colli, A. | ||||||
| Official Date: | 1 June 2021 | ||||||
| Dates: |
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| Status: | Peer Reviewed | ||||||
| Publication Status: | Published | ||||||
| Reuse Statement (publisher, data, author rights): | This is an Accepted Manuscript of a book chapter published by Routledge in The Emergence of Corporate Governance: People, Power and Performance on June 1, 2021, available online: http://www.routledge.com/9780367443344 | ||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||
| Date of first compliant deposit: | 1 September 2021 | ||||||
| Date of first compliant Open Access: | 1 December 2022 | ||||||
| Related URLs: |
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