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The UK Stewardship Code: On the Road to Nowhere?

Reisberg, A; (2015) The UK Stewardship Code: On the Road to Nowhere? Journal of Corporate Law Studies , 15 (2) pp. 217-253. 10.1080/14735970.2015.1044771. Green open access

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Abstract

In this article I seek to demonstrate that, as drafted, the UK Stewardship Code (SC) is trivial, absent of meaning and incapable of achieving its goals. I will begin by demonstrating how little it has achieved to date and can expect to achieve going forward. In doing so I will reconsider arguments, advanced elsewhere, concerning the conceptual problems with the SC, specifically; how it is drafted and upon what it focuses. I will then advance new concerns about the practical issues of the SC that make it a blunt tool of corporate governance but go on to show that there are a number of potential ways to change this. In doing so I hope to provide the impetus to divert the SC from its current path, travelling along the road to nowhere, and instead seek a journey that not only has a destination but a much more promising one

Type: Article
Title: The UK Stewardship Code: On the Road to Nowhere?
Open access status: An open access version is available from UCL Discovery
DOI: 10.1080/14735970.2015.1044771
Publisher version: http://dx.doi.org/10.1080/14735970.2015.1044771
Language: English
Keywords: Stewardship, Shareholders, Engagement, Corporate Governance, Directors, Long Term, Institutional shareholders, The UK Stewardship Code
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of Laws
URI: https://discovery.ucl.ac.uk/id/eprint/1464513
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