Chapter

Ownership, Control, and the Pursuit of Profit

J. E. Parkinson

in Corporate Power and Responsibility

Published in print April 1995 | ISBN: 9780198259893
Published online March 2012 | e-ISBN: 9780191682018 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198259893.003.0018

Series: Clarendon Paperbacks

Ownership, Control, and the Pursuit of Profit

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This chapter explores the threat to the wealth-creating potential of large-scale corporate enterprise resulting from the organizational phenomenon generally referred to as the ‘separation of ownership and control’. It begins by explaining delegation and the problem of control. It also details the separation of ownership and control. The consideration of the consequences of the separation of ownership and control has inevitably been somewhat impressionistic. However, there is no shortage of studies attempting to evaluate the influence of weak owner control on company performance. Many of these have involved a comparison of rates of return on equity in owner- and management-controlled companies. While accepting that no conclusive view on the effects of the separation of ownership and control is possible, it is significant to enquire what contribution the law and structural reform might make to close the disciplinary gap.

Keywords: ownership; owner control; profit; corporate enterprise; company

Chapter.  11080 words. 

Subjects: Company and Commercial Law

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