History and the Global Corporate Governance Revolution: The UK Perspective

B. Cheffins

Business History, 2001, vol. 43, issue 4, 87-118

Abstract: Market forces are allegedly serving to destabilise traditional business structures and cause some form of convergence along US lines. Consistent with an emerging trend in the literature, this article examines the convergence trend from an historical perspective. The focus is on Britain, since it is the only major industrial nation that has undertaken the journey upon which other countries may be embarking. While contemporary developments suggest that Britain's failure to adopt US-style managerial structures more quickly may have contributed to the UK's economic 'decline', this inference should be drawn with caution. The evolution of corporate governance in Britain indicates that various factors that have been identified as preconditions for the emergence of the 'Anglo-American' system of corporate governance are probably not decisive variables.

Date: 2001
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DOI: 10.1080/713999243

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