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Corporate Governance And The Public Interest

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Author Info
Branston, J. Robert (Universities of Birmingham, Ferrara and Wisconsin-Milwaukee)
Cowling, Keith (Department of Economics, University of Warwick)
Sugden, Roger (Universities of Birmingham, Ferrara and Wisconsin-Milwaukee)
Abstract

A theory of the firm based on strategic decision-making highlights governance as a central issue. Preferences vary over strategy but not all interests are currently being represented, resulting in a failure to govern in the public interest. As solutions, we consider the design of company law and also more immediate ways forward, focusing on regulation and democratically controlled public agencies, but stressing the fundamental significance of active, effective citizens. Throughout, the arguments are illustrated using examples from various countries and industries, including education, information technology, football and public utilities in Europe and the US.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/publications/twerp626.pdf
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Publisher Info
Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 626.

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Length: 31 pages
Date of creation: 2002
Date of revision:
Handle: RePEc:wrk:warwec:626

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Related research
Keywords: Governance ; Strategic Decisions ; Public Interest ; Democracy;

Find related papers by JEL classification:
L5 - Industrial Organization - - Regulation and Industrial Policy
G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government

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  1. Cowling, Keith & Sugden, Roger, 1998. "Strategic Trade Policy Reconsidered: National Rivalry vs Free Trade vs International Cooperation," Kyklos, Blackwell Publishing, vol. 51(3), pages 339-57.
  2. Prowse, Stephen D., 1990. "Institutional investment patterns and corporate financial behavior in the United States and Japan," Journal of Financial Economics, Elsevier, vol. 27(1), pages 43-66, September. [Downloadable!] (restricted)
  3. Kester, W Carl, 1992. "Industrial Groups as Systems of Contractual Governance," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 24-44, Autumn.
  4. Franks, Julian & Mayer, Colin, 1996. "Hostile takeovers and the correction of managerial failure," Journal of Financial Economics, Elsevier, vol. 40(1), pages 163-181, January. [Downloadable!] (restricted)
  5. Kenneth Scott, 1999. "Institutions of Corporate Governance," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(1), pages 3-, March.
  6. Jenkinson, Tim & Mayer, Colin, 1992. "The Assessment: Corporate Governance and Corporate Control," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 1-10, Autumn.
  7. Yafeh, Yishay, 2000. "Corporate Governance in Japan: Past Performance and Future Prospects," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 74-84, Summer.
  8. Elaine Sternberg, 1997. "The Defects of Stakeholder Theory," Corporate Governance: An International Review, Blackwell Publishing, vol. 5(1), pages 3-10, 01. [Downloadable!] (restricted)
  9. Franks, Julian & Mayer, Colin, 1998. "Bank control, takeovers and corporate governance in Germany," Journal of Banking & Finance, Elsevier, vol. 22(10-11), pages 1385-1403, October. [Downloadable!] (restricted)
  10. Bruno S. Frey & Alois Stutzer, . "Happiness, Economy and Institutions," IEW - Working Papers iewwp015, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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  11. Tirole, Jean, 2001. "Corporate Governance," Econometrica, Econometric Society, vol. 69(1), pages 1-35, January.
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  12. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-83, June. [Downloadable!] (restricted)
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  13. Becht, Marco & Roell, Ailsa, 1999. "Blockholdings in Europe:: An international comparison1," European Economic Review, Elsevier, vol. 43(4-6), pages 1049-1056, April. [Downloadable!] (restricted)
  14. Schneider-Lenne, Ellen R, 1992. "Corporate Control in Germany," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 11-23, Autumn.
  15. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2000. "Investor protection and corporate governance," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 3-27. [Downloadable!] (restricted)
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  16. Cowling, Keith & Sugden, Roger, 1998. "The Essence of the Modern Corporation: Markets, Strategic Decision-Making and the Theory of the Firm," The Manchester School of Economic & Social Studies, Blackwell Publishing, vol. 66(1), pages 59-86, January.
  17. Rydqvist, Kristian, 1992. "Dual-Class Shares: A Review," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 45-57, Autumn.
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