Corporate Governance in the United Kingdom

1. Front Matter

   Pages i-vi

   PDF

2. Introduction

   • William Forbes, Lynn Hodgkinson

   Pages 1-2

3. Modes of Governance

   • William Forbes, Lynn Hodgkinson

   Pages 3-12

4. Historical Context and Codification of Corporate Governance

   • William Forbes, Lynn Hodgkinson

   Pages 13-20

5. Nature of Ownership

   • William Forbes, Lynn Hodgkinson

   Pages 21-25

6. Boards

   • William Forbes, Lynn Hodgkinson

   Pages 26-33

7. Executive Remuneration

   • William Forbes, Lynn Hodgkinson

   Pages 34-40

8. Institutional Investors

   • William Forbes, Lynn Hodgkinson

   Pages 41-49

9. The Market for Corporate Control

   • William Forbes, Lynn Hodgkinson

   Pages 50-60

10. Future Directions

    • William Forbes, Lynn Hodgkinson

    Pages 61-70

11. Back Matter

    Pages 71-74

    PDF

Recent experience from the global financial crisis suggests that the future of corporate governance will bring radical changes, surprises and challenges. Having said that, it should not be underestimated how much UK corporate governance has changed since the Cadbury Commission in 1992. In this book, William Forbes and Lynn Hodgkinson identify a need to provide a comprehensive analysis of past research concerning UK corporate governance in the light of the recent crisis. Where prior reviews of corporate governance research have to a large extent focused on literature from the USA, this book provides an overview of the development of corporate governance with a focus on literature concerning the UK. It addresses seven major themes: modes of governance; the historical context and codification of corporate governance; nature of ownership; boards; executive remuneration; institutional investors; and the market for corporate control. This review incorporates policy recommendations and changes in practice, and explores implications for companies, financial institutions, corporate governance practice and other stakeholders in the light of the recent crisis. The authors conclude by suggesting future directions for academic research in corporate governance in the light of recent events, where more deep rooted reform may be possible.

• corporate governance
• development
• Governance

• Loughborough University, UK

  William Forbes

• Bangor Business School, UK

  Lynn Hodgkinson

William Forbes has previously worked at the Universities of Exeter, Bangor, Manchester and Glasgow. His recent research has focused on market-based accounting and valuation and addresses statistical/econometric issues in valuing firms and policy issues raised by the new economy. He has recent publications in Financial Management, European Financial Management and the Journal of Empirical Finance.

Lynn Hodgkinson is currently Treasurer/Secretary for the Conference of Professors of Accounting and Finance (CPAF), and Director of the Centre for Impression Management in Accounting Communication (CIMAC) at Bangor Business School. She has recent publications in the Journal of Banking and Finance, European Financial Management and the British Accounting Review. Her research interests include mergers, dividend policy and the impact of taxation on corporate finance decisions. She has received grants from The Economic and Social Research Council (ESRC), The Institute of Chartered Accountants in England and Wales (ICAEW) and Chartered Institute of Management Accountants (CIMA).

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