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Corporate Governance and the Public Interest

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  • Branston, J. Robert
  • Cowling, Keith
  • Sugden, Roger

Abstract

A theory of the firm based on strategic decision-making highlights governance as a central issue. Preferences vary over strategy but not all interests are currently being represented, resulting in a failure to govern in the public interest. As solutions, we consider the design of company law and also more immediate ways forward, focusing on regulation and democratically controlled public agencies, but stressing the fundamental significance of active, effective citizens. Throughout, the arguments are illustrated using examples from various countries and industries, including education, information technology, football and public utilities in Europe and the US.

Suggested Citation

  • Branston, J. Robert & Cowling, Keith & Sugden, Roger, 2001. "Corporate Governance and the Public Interest," Economic Research Papers 269400, University of Warwick - Department of Economics.
    • Handle: RePEc:ags:uwarer:269400
    DOI: 10.22004/ag.econ.269400
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    References listed on IDEAS

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    1. Prowse, Stephen D., 1990. "Institutional investment patterns and corporate financial behavior in the United States and Japan," Journal of Financial Economics, Elsevier, vol. 27(1), pages 43-66, September.
    2. Keith Cowling & Roger Sugden, 1998. "Strategic Trade Policy Reconsidered: National Rivalry vs Free Trade vs International Cooperation," Kyklos, Wiley Blackwell, vol. 51(3), pages 339-357, August.
    3. Elaine Sternberg, 1997. "The Defects of Stakeholder Theory," Corporate Governance: An International Review, Wiley Blackwell, vol. 5(1), pages 3-10, January.
    4. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2000. "Investor protection and corporate governance," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 3-27.
    5. Mairi Maclean, 1999. "Corporate Governance in France and the UK: Long-Term Perspectives on Contemporary Institutional Arrangements," Business History, Taylor & Francis Journals, vol. 41(1), pages 88-116.
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    7. Cowling, Keith & Sugden, Roger, 1998. "Strategic Trade Policy Reconsidered: National Rivalry vs Free Trade vs International Cooperation," Kyklos, Wiley Blackwell, vol. 51(3), pages 339-357.
    8. Kester, W Carl, 1992. "Industrial Groups as Systems of Contractual Governance," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 8(3), pages 24-44, Autumn.
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    Cited by:

    1. Silvia Sacchetti & Roger Sugden, 2003. "The Governance of Networks and Economic Power: The Nature and Impact of Subcontracting Relationships," Journal of Economic Surveys, Wiley Blackwell, vol. 17(5), pages 669-692, December.

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    Political Economy; Public Economics;

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