Shareholders and Stakeholders: The Unrealised Promise of Company Law Reform in Post-War Britain

This book explores the evolution of the shareholder in post-war Britain, examining how the post-war transformation of the shareholder body influenced relationships amongst stakeholders and impacted corporate behavior and the legal and political efforts to govern industry and financial markets. It addresses themes such as democratization, rhetoric of change, de-radicalization of political positions, and the institutionalization of the post-war shareholder body. The book draws parallels to contemporary movements for stakeholder capitalism, corporate purpose, and ESG and provides a framework for considering current questions on shareholder primacy and the demands for systemic legal reforms.

Format: Hardback
Length: 328 pages
Publication date: 07 September 2023
Publisher: Bloomsbury Publishing PLC

This comprehensive book delves into the intricate evolution of the shareholder in post-war Britain, examining how it has been shaped by a multitude of changing legal, political, economic, and social factors. It explores the profound impact of the post-war transformation of the shareholder body on relationships among stakeholders, influencing corporate behavior and the legal and political efforts to govern industry and financial markets. The book addresses a range of compelling themes, including:
1. The influence of democratization movements on the treatment of shareholder interests and the demand for stakeholder representation.
2. The creation of a narrative that obscured the lack of systemic legal reforms while protecting the status quo.
3. The de-radicalization of political positions on equity ownership in the post-war consensus environment, which proved unsustainable in the face of growing political polarization and industrial unrest.
4. The profound effects of the institutionalization of the post-war shareholder body on industry, financial markets, and the broader economy.

By examining these themes, the book provides a detailed historical analysis of the post-war shareholder, focusing on developments that have shaped the treatment and perception of shareholder and stakeholder interests. It explores nationalizations, shareholder democracy, corporate purpose, and industrial democracy as key drivers of change. Furthermore, the book considers how these post-war changes have contributed to the legal treatment of shareholder and stakeholder interests in the post-1979 era, including subsequent amendments to the Companies Act and the development of corporate governance codes.

Parallels are drawn to contemporary movements for stakeholder capitalism, corporate purpose, and ESG, highlighting the ongoing relevance of the historical study of the post-war shareholder. This book offers valuable insights into the complex dynamics of corporate governance, providing a framework for understanding current questions and challenges related to shareholder and stakeholder interests. It is a must-read for scholars, policymakers, and business professionals seeking to navigate the evolving landscape of corporate responsibility and sustainability.

Dimension: 234 x 156 (mm)
ISBN-13: 9781509966806