Shareholder activism and the law: the future of us corporate governance
"This book provides a complete framework for contemporary shareholder activism and its implications over US corporate governance, which is based on the director primacy theory. Under director primacy theory, shareholders do not wish to be involved with the management, and when they do it equall...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Abingdon, Oxon
Routledge
2020
|
| Schriftenreihe: | Routledge research in corporate law
Routledge research in corporate law |
| Schlagworte: | |
| Online-Zugang: | URL des Erstveroeffentlichers |
| Zusammenfassung: | "This book provides a complete framework for contemporary shareholder activism and its implications over US corporate governance, which is based on the director primacy theory. Under director primacy theory, shareholders do not wish to be involved with the management, and when they do it equally means a transfer of power from the board of directors to shareholders, which in turn reduces the efficiency of the centralised decision-making in public-companies. However, this book demonstrates that shareholders do not use their power to transfer corporate control from the board to themselves, and even some form of shareholder activism is collaborative, which is a new paradigm for US corporate governance. This book shows that while monitoring remains as a key contribution of shareholders, they also bring new informational inputs to corporate decision-making, which could not be obtained under the traditional board model. Accordingly, contemporary shareholder activism enhances the board's decision-making and monitoring capacity, without undermining the economic value of the board authority. Therefore, this book sets out that the complete approach of contemporary shareholder activism should be accommodated into US corporate governance. In doing so, this book considers not only legal and regulatory developments in the wake of the 2007-2008 financial crisis, but also the governance developments through by-law amendments. Furthermore, the author makes several recommendations to soften the current director primacy model: establishing a level playing for private ordering, adopting the proxy access default regime, the majority voting rule, the universal proxy rules, and enhancing the disclosure requirements of shareholders. The book will be of interest to academics and students of corporate governance, both in the US and internationally"-- |
| Beschreibung: | Based on author's thesis (doctoral - University of Edinburgh, 2018) issued under title: Evolving role of shareholders and the future of director primacy theory Description based on online resource; title from digital title page (viewed on June 03, 2020) |
| Beschreibung: | 1 online resource (xii, 222 pages) |
| ISBN: | 9780429344954 0429344953 9781000069747 1000069745 9781000069709 1000069702 9781000069723 1000069729 |
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| id | DE-604.BV047016862 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T15:58:19Z |
| indexdate | 2024-07-10T09:00:14Z |
| institution | BVB |
| isbn | 9780429344954 0429344953 9781000069747 1000069745 9781000069709 1000069702 9781000069723 1000069729 |
| language | English |
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| physical | 1 online resource (xii, 222 pages) |
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| series2 | Routledge research in corporate law |
| spelling | Solak, Ekrem Verfasser aut Shareholder activism and the law the future of us corporate governance Dr. Ekrem Solak Abingdon, Oxon Routledge 2020 © 2020 1 online resource (xii, 222 pages) txt rdacontent c rdamedia cr rdacarrier Routledge research in corporate law Based on author's thesis (doctoral - University of Edinburgh, 2018) issued under title: Evolving role of shareholders and the future of director primacy theory Description based on online resource; title from digital title page (viewed on June 03, 2020) "This book provides a complete framework for contemporary shareholder activism and its implications over US corporate governance, which is based on the director primacy theory. Under director primacy theory, shareholders do not wish to be involved with the management, and when they do it equally means a transfer of power from the board of directors to shareholders, which in turn reduces the efficiency of the centralised decision-making in public-companies. However, this book demonstrates that shareholders do not use their power to transfer corporate control from the board to themselves, and even some form of shareholder activism is collaborative, which is a new paradigm for US corporate governance. This book shows that while monitoring remains as a key contribution of shareholders, they also bring new informational inputs to corporate decision-making, which could not be obtained under the traditional board model. Accordingly, contemporary shareholder activism enhances the board's decision-making and monitoring capacity, without undermining the economic value of the board authority. Therefore, this book sets out that the complete approach of contemporary shareholder activism should be accommodated into US corporate governance. In doing so, this book considers not only legal and regulatory developments in the wake of the 2007-2008 financial crisis, but also the governance developments through by-law amendments. Furthermore, the author makes several recommendations to soften the current director primacy model: establishing a level playing for private ordering, adopting the proxy access default regime, the majority voting rule, the universal proxy rules, and enhancing the disclosure requirements of shareholders. The book will be of interest to academics and students of corporate governance, both in the US and internationally"-- Stockholders / Legal status, laws, etc / United States Corporate governance / Law and legislation / United States https://www.taylorfrancis.com/books/9780429344954 Verlag URL des Erstveroeffentlichers Volltext |
| spellingShingle | Solak, Ekrem Shareholder activism and the law the future of us corporate governance Stockholders / Legal status, laws, etc / United States Corporate governance / Law and legislation / United States |
| title | Shareholder activism and the law the future of us corporate governance |
| title_auth | Shareholder activism and the law the future of us corporate governance |
| title_exact_search | Shareholder activism and the law the future of us corporate governance |
| title_exact_search_txtP | Shareholder activism and the law the future of us corporate governance |
| title_full | Shareholder activism and the law the future of us corporate governance Dr. Ekrem Solak |
| title_fullStr | Shareholder activism and the law the future of us corporate governance Dr. Ekrem Solak |
| title_full_unstemmed | Shareholder activism and the law the future of us corporate governance Dr. Ekrem Solak |
| title_short | Shareholder activism and the law |
| title_sort | shareholder activism and the law the future of us corporate governance |
| title_sub | the future of us corporate governance |
| topic | Stockholders / Legal status, laws, etc / United States Corporate governance / Law and legislation / United States |
| topic_facet | Stockholders / Legal status, laws, etc / United States Corporate governance / Law and legislation / United States |
| url | https://www.taylorfrancis.com/books/9780429344954 |
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