Re-Evaluating Shareholder Primacy in the Post-Crisis Context: Book Review of Law, Corporate Governance and Partnerships at Work by Richard Mitchell et al. (Ashgate Publishing, 2011)

27 Pages Posted: 10 Jan 2014

See all articles by Dezso Farkas

Dezso Farkas

York University - Osgoode Hall Law School

Date Written: December 17, 2013

Abstract

The recent string of corporate scandals and economic crises have reminded us of the far reaching effects of corporate power, raising questions over what drives corporate decision-making values and priorities. The Varieties of Capitalism literature has proven to be useful in analyzing national divergences in corporate governance practices, institutional frameworks and legal systems and how these factors interplay to create coherent systems of political economy. Against the backdrop of this framework 'Law, Corporate Governance and Partnerships at Work' embarks on an examination of the complex intersection of legal and institutional factors within the Australian national context which give rise to ‘Partnerships at Work’ defined as the 'situations in which business organizations are seen to work closely and cooperatively with their employees'. The implications of this research, namely that corporate managers in a liberal market context can work in partnership with their employees and still operate their firms productively and competitively in the face of capital market pressures challenges our current understanding of shareholder primacy theory as an accurate reflection of how managers run their firms and merits its inclusion into any serious inquiry on the trajectory of corporate governance in the post-crisis context.

Keywords: comparative capitalisms, shareholder primacy, corporate governance, labour orientation

JEL Classification: L20

Suggested Citation

Farkas, Dezso, Re-Evaluating Shareholder Primacy in the Post-Crisis Context: Book Review of Law, Corporate Governance and Partnerships at Work by Richard Mitchell et al. (Ashgate Publishing, 2011) (December 17, 2013). Available at SSRN: https://ssrn.com/abstract=2368684 or http://dx.doi.org/10.2139/ssrn.2368684

Dezso Farkas (Contact Author)

York University - Osgoode Hall Law School ( email )

4700 Keele Street
Toronto, Ontario M3J 1P3
Canada

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