Download this Paper Open PDF in Browser

Ownership of the Large Corporation: Why Clothe the Emperor?

Kings College Law Journal, Vol. 7, pp. 27-54, 1996

28 Pages Posted: 31 Aug 2009  

Razeen Sappideen

Western Sydney University, School of Law

Date Written: August 31, 2009

Abstract

This paper advances the claim that the large modern public corporation, especially the listed corporation, is in addition to being an entity in its own right, is an entity without owners. In other words, the large modern corporation owns itself in both and economic and legal sense, and because of this the notion of separation of ownership and control is a non sequitir. For this reason, the large modern corporation is very much a public purpose entity, licensed by the State, and whose activities and conduct of affairs are therefore, very much a concern of the Sate.

Keywords: Agency theory, separation of ownership and control, Berle and Means, institutional shareholders, shifting coalitions, liquidity, risk

Suggested Citation

Sappideen, Razeen, Ownership of the Large Corporation: Why Clothe the Emperor? (August 31, 2009). Kings College Law Journal, Vol. 7, pp. 27-54, 1996. Available at SSRN: https://ssrn.com/abstract=1464573

Razeen Sappideen (Contact Author)

Western Sydney University, School of Law ( email )

Locked Bag 1797
Penrith, NSW 2751
Australia

Paper statistics

Downloads
58
Rank
308,752
Abstract Views
364