Corporate Governance

John Kay

in The Business of Economics

Published in print October 1996 | ISBN: 9780198292227
Published online November 2003 | e-ISBN: 9780191596520 | DOI:
 Corporate Governance

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This chapter explores some of the policy implications of the view that the large successful corporation is a social institution rather than the creation of private contract, embodying a corporate personality and incapable of being “owned” by any one. It puts forward a series of proposals whose objective is to give executive management the greatest possible freedom to develop the business over a period of years in whatever way they think fit, while holding them rigorously responsible to all the parties involved in the business for their performance in the long run.

Keywords: corporate governance; corporate performance; corporate personality; corporation; management; responsibility; shareholders; social institutions; stakeholders; strategy

Chapter.  8161 words. 

Subjects: Microeconomics

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