Comparative Corporate Governance

The course offers an analytical framework and a comparative study of corporate governance and corporate law in major economies. Corporate governance, broadly defined, is the set of legal and non-legal tools that can be used to ensure that companies are run consistently with their purposes. In many jurisdictions, this has traditionally meant making sure that those in charge of making day-to-day and strategic decisions on behalf of the company act in the interests of shareholders. More recently, a ‘multi-stakeholder’ view of corporations has started to become mainstream: these are organizations whose actions affect the welfare not only of shareholders but also of creditors, employees, local communities and society more generally.

While the emphasis in the teaching will be on legal institutions, and corporate law specifically, the course materials will also cover the ways in which corporate culture, market pressures, reputational constraints, and so on, affect corporate governance and corporate law in action.

The course will be comparative, providing students with knowledge about corporate governance and corporate law core features in major jurisdictions and asking why governance regimes in most countries display some common features and why they diverge in other respects. Closer attention will be given to the UK, the US and continental European jurisdictions, but an attempt will be made to include readings covering newly emerged countries such as India, Brazil and others.

This option will not be available in 2024-25.