This thesis examines the nature of the framework for corporate governance with reference to the roles of the general meeting and the board of directors, and suggests that despite numerous reforms of Company Law and the changing nature of business enterprise in general, the framework for corporate administration has undergone little structural change. It discusses the extent of shareholders' involvement in the control of their companies and directors' participation in company management, and argues that the da facto roles of these two corporate organs is not quite to the same extent as is presupposed in legal theory, and that more effective participation may be achieved through certain changes in the existing framework for participation. To this end suggestions are made for increased shareholders' control through shareholders' committees and institutional shareholders acting individually or by collective action, sometimes as representatives of private shareholders. In respect of the board the thesis proposes a greater supervisory function for boards of directors which presupposes an increased use of non-executive directors (some of which would be special shareholders' nominees) under a unitary board structure. This work has involved very little empirical research of its own but by drawing on empirical and theoretical materials (original and secondary) from economics, business, politics, sociology, etc., literature, a wider dimension is given to the discussion than would normally be the case in a "hard law" thesis. As the need for a modification in the framework for corporate governance becomes increasingly recognised and debated, it is hoped that lawyers, businessmen, legislators and all concerned would find this "law in context" approach to the twin-problems of improving shareholders' control and the board's supervisory functions more convincing.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:258529 |
| Date | January 1981 |
| Creators | Osunbor, Oserheimen |
| Publisher | University of Warwick |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Source | http://wrap.warwick.ac.uk/102290/ |
Page generated in 0.0159 seconds