Working Paper
Private Enforcement of Corporate Law: An Empirical Comparison of the UK and US
It is often assumed that strong securities markets require good legal protection of minority shareholders. This implies both "good" law -- principally...
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Should Shareholders Have a Say on Acquisitions?
Shareholders of U.S. corporations have lost billions of dollars in acquisitions they never approved. In the United Kingdom the listing...
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The Rise of Corporate Governance in the U.K.: When and Why
While issues that prompt corporate governance responses are endemic to the corporate form, the term "corporate governance" only began to feature with...
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Limits of Private Sector Solutions for Banks: Recent UK Rights Issues
This article reviews regulatory concerns prompted by the difficulties that were encountered by four British banks in making rights issues and other pro...
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The Market for Stewardship and the Role of the Government
In this contribution, we focus on the market for stewardship, as this has been developing in the UK. We observe that the 2020 UK Stewardship Code more...
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The Undermining of UK Corporate Governance (?)
Over the past dozen years numerous overseas based businesses with dominant shareholders have become quoted on the London Stock Exchange, prominent...
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Governing the Purpose of Investment Management: How the ‘Stewardship’ Norm is being (Re)Developed in the UK and EU
From the introduction of shareholder engagement as a ‘norm’ for stewardship, the regulatory governance of investment management conduct has been...
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Who Writes the Rules for Hostile Takeovers, and Why? The Peculiar Divergence of US and UK Takeover Regulation
Hostile takeovers are commonly thought to play a key role in rendering managers accountable to dispersed shareholders in the Anglo-American system of...
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