Abstract

http://ssrn.com/abstract=2129686
 


 



The Undermining of UK Corporate Governance (?)


Brian R. Cheffins


University of Cambridge - Faculty of Law; European Corporate Governance Institute (ECGI)

February 13, 2013

ECGI - Law Working Paper No. 203
University of Cambridge Faculty of Law Research Paper No. 4/2013

Abstract:     
Over the past dozen years numerous overseas based businesses with dominant shareholders have become quoted on the London Stock Exchange, prominent examples of which have joined the ‘blue chip’ FTSE 100 stock market index. While this trend has generated concerns about the ‘undermining’ of UK corporate governance and has fostered reform proposals by the Financial Services Authority it has thus far escaped academic attention. This paper explains why companies with dominant shareholders have been migrating to London and discusses the policy implications. In so doing it shows that the Financial Services Authority’s proposals mostly cover familiar ground rather than being innovative but maintains that the case for radical reform has in fact not yet been made out.

Number of Pages in PDF File: 59

Keywords: corporate governance, corporate ownership and control, minority shareholder protection, FTSE 100, listing rules

JEL Classification: G34, G38, K22

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Date posted: August 15, 2012 ; Last revised: March 27, 2013

Suggested Citation

Cheffins, Brian R., The Undermining of UK Corporate Governance (?) (February 13, 2013). ECGI - Law Working Paper No. 203; University of Cambridge Faculty of Law Research Paper No. 4/2013. Available at SSRN: http://ssrn.com/abstract=2129686 or http://dx.doi.org/10.2139/ssrn.2129686

Contact Information

Brian R. Cheffins (Contact Author)
University of Cambridge - Faculty of Law ( email )
10 West Road
Cambridge, CB3 9DZ
United Kingdom
+44 1223 330084 (Phone)
+44 1223 330055 (Fax)

European Corporate Governance Institute (ECGI)
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
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