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The separation of ownership and control under a happiness-based theory of the corporation

McConvill, James 2005, The separation of ownership and control under a happiness-based theory of the corporation, The company lawyer, vol. 26, no. 2, pp. 35-53.

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Title The separation of ownership and control under a happiness-based theory of the corporation
Author(s) McConvill, James
Journal name The company lawyer
Volume number 26
Issue number 2
Start page 35
End page 53
Publisher Sweet & Maxwell Ltd
Place of publication Andover, England
Publication date 2005
ISSN 0144-1027
Keyword(s) corporate governance
shareholders
Summary Explores the happiness-based theory of the corporation, suggesting that there is no conflict between the pursuance of economic and social objectives on the basis that their interplay is required to facilitate shareholder happiness. Considers: (1) the Berle-Means hypothesis and the separation of ownership and control, the dominant governance structure for large companies; (2) a happiness-based perspective on the separation; and (3) law reform applicable to a happiness-based theory. Argues that the separation of ownership and control is not in shareholders' best interests because the structure is not conducive to the happiness of individual shareholders and should be reformed.
Language eng
Field of Research 180105 Commercial and Contract Law
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2005, Sweet & Maxwell
Persistent URL http://hdl.handle.net/10536/DRO/DU:30003422

Document type: Journal Article
Collection: Law
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