Chris Mallin () (Centre for Corporate Governance Research, Department of Accounting and Finance, The Birmingham Business School, University of Birmingham, Edgbaston, Birmingham B15 2TT. c.a.mallin@bham.ac.uk) Andy Mullineux (University of Birmingham) Clas Wihlborg (Copenhagen Business School)
Abstract
Post 1992 Cadbury Committee report developments in UK corporate governance provisions are reviewed. The role of institutional investors, and the financial sector as a whole, in corporate governance is considered. Practices in "Continental Europe", the UK and the US are contrasted, along with the roles of banks, strategic investors ("insiders"), institutional investors ("outsiders") and capital markets. To be effective, capital markets must be efficient and competitive and auditing must be reliable. Current EU and US reform proposals are compared and prospects for convergence in corporate governance procedures assessed. Copyright Blackwell Publishing Ltd 2005.
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