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Corporate Boards, Investors and Their Relationships: accounts of accountability and corporate governing in action

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  • Annie Pye

Abstract

This paper argues that constructive relationships between investors and boards have become crucial to running large organisations. Comparing interview data from Chairmen, Chief Executives and board members in 1987–89 and 1998–2000, this paper also considers the changing role of NEDs and influence of board culture which may constrain NEDs’ ability to perform effectively. While the board’s influence on shareholder value may be significant, the inability to account for its effectiveness or contribution appears surprising. The paper concludes that as shareholders exercise their “absolute rights” to question management, this may encourage more covert rather than overt behaviour, raising questions of accountability.

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  • Annie Pye, 2001. "Corporate Boards, Investors and Their Relationships: accounts of accountability and corporate governing in action," Corporate Governance: An International Review, Wiley Blackwell, vol. 9(3), pages 186-195, July.
    • Handle: RePEc:bla:corgov:v:9:y:2001:i:3:p:186-195
    DOI: 10.1111/1467-8683.00246
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    Cited by:

    1. Roberts, John & Sanderson, Paul & Barker, Richard & Hendry, John, 2006. "In the mirror of the market: The disciplinary effects of company/fund manager meetings," Accounting, Organizations and Society, Elsevier, vol. 31(3), pages 277-294, April.
    2. Veldman, Jeroen, 2018. "Inequality, Inc," MPRA Paper 86644, University Library of Munich, Germany.
    3. Veldman, Jeroen, 2019. "Inequality, Inc," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 63(C).
    4. Ruth Bender & Lance Moir, 2006. "Does ‘Best Practice’ in Setting Executive Pay in the UK Encourage ‘Good’ Behaviour?," Journal of Business Ethics, Springer, vol. 67(1), pages 75-91, August.
    5. John Armour & B.R. Cheffins & D.A. Skeel Jr., 2002. "Corporate Ownership Structure and the Evolution of Bankruptcy Law in the US and UK," Working Papers wp226, Centre for Business Research, University of Cambridge.
    6. Jean Cushen & Paul Thompson, 2016. "Financialization and value: why labour and the labour process still matter," Work, Employment & Society, British Sociological Association, vol. 30(2), pages 352-365, April.
    7. Houdou Basse Mama & Alexander Bassen, 2017. "Neglected disciplinary effects of investor relations: evidence from corporate cash holdings," Journal of Business Economics, Springer, vol. 87(2), pages 221-261, February.
    8. Edgley, Carla & Holland, Kevin, 2021. "“Unknown unknowns” and the tax knowledge gap: Power and the materiality of discretionary tax disclosures," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 81(C).

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