Are Good Managers Required for a Separation of Ownership and Control?

Brian R Cheffins

Working Papers from Centre for Business Research, University of Cambridge

Abstract: Logically, in a corporate governance system where big companies are widely held and control over corporate policymaking is delegated to a cohort of full?time executives, there needs to be “good” managers. In Britain, however, ownership separated from control in large business enterprises at a time when the country’s corporate executives were allegedly amateurish and complacent. The paper examines this British paradox and concludes that dynamics affecting institutional investors explain how ownership structures were reconfigured when doubts existed about managerial quality.

Keywords: managers; ownership (search for similar items in EconPapers)
JEL-codes: G30 G32 K22 L22 M53 N24 (search for similar items in EconPapers)
Date: 2003-09
Note: PRO-2
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Persistent link: https://EconPapers.repec.org/RePEc:cbr:cbrwps:wp268

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