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Corporate Governance And The Public Interest

Author

Listed:
  • 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.

Suggested Citation

  • Branston, J. Robert & Cowling, Keith & Sugden, Roger, 2002. "Corporate Governance And The Public Interest," The Warwick Economics Research Paper Series (TWERPS) 626, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:626
    as

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    File URL: https://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp626.pdf
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    References listed on IDEAS

    as
    1. 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.
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    3. repec:hrv:faseco:30728046 is not listed on IDEAS
    4. Kenneth Scott, 1999. "Institutions of Corporate Governance," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(1), pages 1-3, March.
    5. 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.
    6. Tirole, Jean, 2001. "Corporate Governance," Econometrica, Econometric Society, vol. 69(1), pages 1-35, January.
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    13. 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.
    14. Becht, Marco & Roell, Ailsa, 1999. "Blockholdings in Europe:: An international comparison1," European Economic Review, Elsevier, vol. 43(4-6), pages 1049-1056, April.
    15. 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.
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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Governance ; Strategic Decisions ; Public Interest ; Democracy;

    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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