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The Business of Economics$
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John Kay

Print publication date: 1996

Print ISBN-13: 9780198292227

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292228.001.0001

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Corporate Governance

Corporate Governance

(p.105) 13 Corporate Governance
The Business of Economics

John Kay (Contributor Webpage)

Oxford University Press

This chapter explores some of the policy implications of the view that the large successful corporation is a social institution rather than the creation of private contract, embodying a corporate personality and incapable of being “owned” by any one. It puts forward a series of proposals whose objective is to give executive management the greatest possible freedom to develop the business over a period of years in whatever way they think fit, while holding them rigorously responsible to all the parties involved in the business for their performance in the long run.

Keywords:   corporate governance, corporate performance, corporate personality, corporation, management, responsibility, shareholders, social institutions, stakeholders, strategy

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