Due to a spate of recent corporate collapses, corporate governance has emerged as an important area of concern throughout the world. One particular area of renewed focus has been the role that shareholders should assume in the corporation. Commentators have varying attitudes on the virtues of shareholder participation from a corporate governance perspective.
A common theme, however, is to assess the positives or negatives of shareholder participation in pure economic terms. Rarely has shareholder participation been considered as an end in itself. This study provides a fascinating, fresh analysis of the virtues of shareholder participation in the context of contemporary corporate governance. By applying recent empirical studies into human happiness, McConvill convincingly argues that shareholders, particularly individuals, should be included in the internal governance framework of public corporations, and enjoy a direct participatory role in the corporation if they so choose.
Recent studies have consistently shown that active participation is one of a limited number of factors that has a positive correlation with levels of personal happiness, however while disciplines within the social sciences have long considered the implications of these findings legal scholars have failed to grasp their significance.
"Shareholder Participation and the Corporation: A Fresh Inter-Disciplinary Approach to Happiness" addresses this gap in the literature currently available by exploring and evaluating the implications of empirical happiness studies in relation to corporate law and governance, and specifically the role of the shareholder. It provides a compelling argument for those seeking to analyse shareholder participation in a different light.
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