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Corporate Ownership and Control
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Corporate Ownership and Control: British Business Transformed

Brian R. Cheffins

Abstract

The typical British publicly traded company has widely dispersed share ownership and is run by professionally trained managers who collectively own an insufficiently large percentage of shares to dictate the outcome when shareholders vote. This separation of ownership and control has not only dictated the tenor of corporate governance debate in Britain but serves to distinguish the UK from most other countries. Existing theories fail to account adequately for arrangements in the UK. Corporate Ownership and Control accordingly seeks to explain why ownership became divorced from control in major ... More

Keywords: separation of ownership and control, corporate governance, business history, agency costs, private benefits of control, company law, stock exchange regulation, dividends, mergers, investor sentiment

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780199236978
Published to Oxford Scholarship Online: January 2009 DOI:10.1093/acprof:oso/9780199236978.001.0001

Authors

Affiliations are at time of print publication.

Brian R. Cheffins, author
S.J. Berwin Professor of Corporate Law, University of Cambridge