Cadbury and a Road Not Taken: Contestation Over Board Design and Development of UK Corporate Governance

41 Pages Posted: 23 May 2017

Date Written: May 23, 2017

Abstract

Since 1992, UK corporate governance has been guided by an evolving code of practice. This paper examines the debates during codification and revision, focusing on one issue, board design, and through a close reading of contributions to consultations, it shows the process had three outcomes: It valorised and institutionalised concerns of corporations and investors, but in ways legitimated disparate views and actors. It thus suppressed competing logics, but in ways that allowed them to resurface later. However, over time it failed to engage emerging voices in a rapidly changing market context, raising questions over its likelihood to retain legitimacy.

Keywords: Corporate governance, boards of directors, codes of conduct, UK, institutional logics, legitimacy

JEL Classification: M1, M48, N2

Suggested Citation

Nordberg, Donald, Cadbury and a Road Not Taken: Contestation Over Board Design and Development of UK Corporate Governance (May 23, 2017). Available at SSRN: https://ssrn.com/abstract=2972545 or http://dx.doi.org/10.2139/ssrn.2972545

Donald Nordberg (Contact Author)

Bournemouth University ( email )

Executive Business Centre, 89 Holdenhurst Road,
Bournemouth, BH8 8EB
United Kingdom

HOME PAGE: http://staffprofiles.bournemouth.ac.uk/display/dnordberg

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