In recent years there have been two parallel discussions taking place in the US and in the UK about the role which institutional shareholders should play in governing the corporation. In the US this discussion is around the idea of shareholder empowerment, in the UK it is around shareholder...

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The role and position of shareholders within a listed public company has been a subject of debate on both the national and the international level for decades. This debate focuses primarily on the rights that are, or perhaps, should be conferred upon shareholders in such a company and,...

By the end of the twentieth century, the then-dominant literature on “law and finance” assumed that concentrated ownership was a product of deficient legal systems that did not sufficiently protect outside investors. At the same time, commentators posited that the competitive pressures of...

This article, written for a symposium on the history of corporate social responsibility, seeks to make sense of the surprising disagreement within the corporate law academy on the foundational legal question of corporate purpose: does the law require shareholder primacy or not? I argue here that...

The premises of classical company law are those of capitalism. Subject to a range of restrictions on withdrawing capital, the rules vest ultimate control of the business in those who provided the equity for the business, the shareholders. But only all the shareholders acting unanimously have...

This article considers the approaches to the remedies which are available to minority shareholders for conduct by the majority alleged to be oppressive, unfairly prejudicial or discriminatory. In doing so it focuses, inter alia, on the statutory provisions now contained in sections 232-3 of the...

While it seems that China's corporate system lags far behind that of Western developed countries such as the UK, the US or Germany, as early as 1904 China's first corporate law had been promulgated by the imperial government—the Qing Government—which included the rule of limited liability...