Debunking the myth of shareholder ownership of companies: Some implications for corporate governance and financial reporting

The shareholder primacy model is dominant in Anglo-Saxon corporate governance and financial reporting even though it is considered to be dysfunctional and a source of crisis. The possibilities of reforms are routinely stymied with the claims that shareholders are the owners of large corporations and management should promote their interests. This paper seeks to debunk such claims. It shows that a corporation is a distinct legal person and cannot be owned by its shareholders. It argues that shareholders in contemporary corporations are owners of ?fictitious? capital which is very distinct from ?real? capital. The systemic pressures require the holders of fictitious capital to constantly buy/sell shares in pursuit of short-term gains. The paper further shows that in a globalised economy, the shareholding duration in major UK companies has shrunk and shareholders are more dispersed than ever before. They are not in any position to control or direct corporations for the benefit of other stakeholders and society generally. The paper calls for abandonment of the shareholder model of governance and calls for empowerment of stakeholders with a long-term interest in the wellbeing of corporations

Relatório de estágio em farmácia comunitária

Relatório de estágio realizado no âmbito do Mestrado Integrado em Ciências Farmacêuticas, apresentado à Faculdade de Farmácia da Universidade de Coimbr

Concentration change and countervailing power in the U.S. food manufacturing industries

Countervailing power, grocery retailing, food manufacturing, concentration change, private labels,

UK Domestic Shipping: Mobilising Investment in Net Zero

Recommendations on priority areas of focus are intended to contribute to the next iteration of the UK government’s Clean Maritime Plan: • Specific sectors of the UK maritime sector such as ferries, offshore service vessels and the offshore wind market present an opportunity for priority action and targeted measures • New sources of capital will be required to fund the industry’s decarbonisation transition • Institutional investors could be a viable source of funding with the appropriate government support • Specific funding mechanisms (illustrated through case studies) can help to overcome the barriers to investmen