Where were the shareholders?

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Chapter 1 in The Responsible Shareholder, 2021, pp 1-36 from Edward Elgar Publishing

Abstract: This chapter describes the history of corporate governance reform over the past thirty years, noting that the reforms have focused primarily on the role of directors, auditors, legal advisers, financial intermediaries and regulators. Given that shareholders have a privileged legal position in a company, the chapter asks why shareholders have not been subject to the same degree of scrutiny. The chapter uses three case studies to illustrate the type of situation in which more could be asked of shareholders: injury to workers and consumers caused by a company's products; financial loss caused to bank customers and investors; and destruction of indigenous heritage. The chapter then summarises what would be expected of a hypothetical responsible shareholder.

Keywords: Business and Management; Economics and Finance; Law - Academic; Law - Professional (search for similar items in EconPapers)
Date: 2021
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