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The Europeanisation of Corporate Governance in Germany and the UK

Waddington, Nigel. (2004) The Europeanisation of Corporate Governance in Germany and the UK. In: UNSPECIFIED, Sheffield, UK.

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    Abstract

    [Introduction]. The business organisation is central to the functioning of any productive economy. It produces goods and services for consumers and generates wealth in the form of wages, profits, interest payments and taxes. It also imposes costs in the form of investments of time, capital and skills and produces externalities such as pollution and urban congestion. It then distributes these costs and benefits among the range of constituent groups that are in some way connected to the activities of the company. These ‘stakeholders’ - managers, investors, creditors, employees, suppliers, customers, communities, the state and wider social and economic interests – are bound in a pattern of structured relationships, both with each other and the corporate entity itself. ‘Corporate governance’ is broadly defined as ‘the system by which companies are directed and controlled’ (Cadbury, 1992:para. 2.5). This ‘system’ is understood here to refer to the rules and other institutions that define stakeholder relationships at the strategic level of the business enterprise. It both shapes and reflects the socially determined purpose of corporate activity by allocating strategic decision-making power among stakeholders and establishing a framework of rules and incentives within which stakeholder relationships are formed and maintained.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Uncontrolled Keywords: Corporate governance.
    Subjects for non-EU documents: Countries > U.K.
    EU policies and themes > Policies & related activities > europeanisation/europeanization & European identity
    Countries > Germany
    EU policies and themes > Policies & related activities > economic and financial affairs > business/private economic activity
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: University of Sheffield, Department of Politics > ESRC/UACES Series of Seminars on EBPP > 2004-07-16 Seminar on EBPP
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 01 Apr 2006
    Page Range: p. 26
    Last Modified: 15 Feb 2011 17:40
    URI: http://aei.pitt.edu/id/eprint/6119

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