Putting Britain on the Roe Map: The Emergence of the Berle-Means Corporation in the United Kingdom

53 Pages Posted: 1 May 2000

See all articles by Brian R. Cheffins

Brian R. Cheffins

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

Date Written: February 2000

Abstract

Work done by Mark Roe has helped to foster a re-examination of the origins of the paradigm American corporation, with its strong managers and widely dispersed shareholders. Roe has argued that the system of ownership and control which prevails in the United States was politically and historically contingent instead of being the product of market forces. This article builds upon Roe's work by discussing historical developments in the United Kingdom. Examining what occurred in Britain provides a unique opportunity to evaluate his theories because with respect to corporate governance arrangements, the UK has more in common with the US than does any other major industrial nation. Generally speaking, the British experience does not conform with Roe's politically oriented analysis.

This paper was presented at the 1999 Tilburg Conference on Convergence and Diversity in Corporate Governance Regimes and Capital Markets.

Suggested Citation

Cheffins, Brian R., Putting Britain on the Roe Map: The Emergence of the Berle-Means Corporation in the United Kingdom (February 2000). Available at SSRN: https://ssrn.com/abstract=218655 or http://dx.doi.org/10.2139/ssrn.218655

Brian R. Cheffins (Contact Author)

University of Cambridge - Faculty of Law ( email )

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Cambridge, CB3 9DZ
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+44 1223 330084 (Phone)
+44 1223 330055 (Fax)

European Corporate Governance Institute (ECGI)

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Belgium

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