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Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Company law
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Public Companies and the Role of Shareholders - National Models towards Global Integration (Hardcover)
Loot Price: R4,114
Discovery Miles 41 140
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Public Companies and the Role of Shareholders - National Models towards Global Integration (Hardcover)
Expected to ship within 10 - 15 working days
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In the wake of the legality crisis that has affected a number of
prominent companies in the last decade, studies have reinforced the
growing conviction that the board of directors, as legally
constituted in leading jurisdictions, is not able to balance the
power of controlling shareholders and that of the company's
executives. The perennial issue of the dynamic between corporate
ownership and management has thus taken a far-reaching new turn
that tends to favour larger and more effective participation and
involvement of shareholders in corporate governance. Proceeding
from the shareholder's perspective, this book examines the law of
public companies in Italy, France, the United Kingdom, Germany, and
the United States. Law professors from each of the five
jurisdictions analyse the role of the shareholder as a member of
the corporate organization and as an investor, with attention to
the listing process, the size and relevance of the securities
market, the ownership structure of public companies, the division
of powers within the company, the role of the general meeting of
shareholders, minority rights, remedies, public authorities, and
takeovers. As might be expected, the debate is quite heated,
covering such topics as the following: * how institutional
investors are changing the terms of the collective action problem;
* ever-increasing political and public demands for more disclosure
and transparency; * conflicts of interest among controlling
shareholders; * convergence of the traditional 'insider' and
'outsider' financial systems; * internal agreements protecting the
position of minority shareholders; and * directors' remuneration.
The authors describe a number of possible mechanisms designed both
to balance directors' and managers' powers and promote efficiency -
proposals that also represent a means to offer legitimacy for the
modern company towards society as a whole. This is a book that will
be warmly welcomed by everyone engaged in the important debate
under way on corporate responsibility and governance.
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