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Vol 22 No 10 Oct/Nov 2017

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Lindley & Banks on Partnership

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Corporate Law and Financial Instability


ISBN13: 9781138289130
To be Published: December 2017
Publisher: Routledge
Country of Publication: UK
Format: Hardback
Price: £105.00



Virtually all large banks and other financial institutions in the UK and internationally are public limited liability companies whose shares are listed on one or several stock exchanges. As such, their corporate governance and, in particular, the incentives faced by their directors and senior managers are to a significant extent determined by corporate and securities law rules such as directors’ duties, directors’ liability in insolvency, takeover regulation, disclosure obligations, shareholder rights and rules on executive remuneration. At the same time, systemically important financial institutions in the UK are licensed, regulated and supervised by the Prudential Regulation Authority (PRA).

This book explores the relationship between, on the one hand, the broader corporate law, corporate governance and securities law framework and, on the other, the prudential regulatory framework. Although the book’s main focus is on UK law, much of the policy argumentation is relevant globally and therefore appropriate international comparisons are drawn, and analysis of EU law and regulation is included. The book argues that the corporate law regime, which focuses on shareholder empowerment and profit maximisation, operates as an antithesis to prudential regulatory objectives thus undermining the safety and soundness of banks and other financial institutions by encouraging risky behaviour that may be in the best interests of their shareholders, but is clearly not in the public interest.

Subjects:
Banking and Finance
Contents:
Introduction
1.Shareholder Power as a Major Cause of Excessive Risk-Taking In Banks and Other Financial Institutions
2. The UK Corporate Law and Governance Framework as a Mechanism To Facilitate Risk-Taking By Corporate Managers and Shareholders
3. The Development of the Prudential Regulatory Framework as a Response to the Problems Posed by Financial Firms Operating with Limited Liability
4. Post-Crisis Reforms and Their Limits: Regulating Financial Institutions’ Capital and Corporate Structure
5. Post-Crisis Reforms and Their Limitations: Regulating the Qualities and Incentives of Financial Institution Directors and Senior Managers
6. The Need to Reform the Corporate Law Framework as it Applies to Financial Institutions: Towards Financial Sustainability
7. Reforming the Civil Liability Framework for Financial Institution Directors and Senior Managers to Foster Financial Sustainability
Conclusion

Series: Routledge Research in Corporate Law

Board Accountability in Corporate Governance ISBN 9781138702127
Published January 2017
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£37.99
Rethinking Corporate Governance in Financial Institutions ISBN 9780415535465
Published November 2015
Routledge
£110.00
£33.32 + £6.66 VAT
(ePub)
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£32.99
Board Accountability in Corporate Governance (eBook) ISBN 9781317910695
Published June 2015
Routledge
£33.32 + £6.66 VAT
(ePub)
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Board Accountability in Corporate Governance ISBN 9780415725538
Published June 2015
Routledge
£110.00
Progressive Corporate Governance for the 21st Century ISBN 9781138805200
Published June 2014
Routledge
£37.99
£28.99
Directors' Decisions and the Law: Promoting Success ISBN 9780415671934
Published February 2014
Routledge
£110.00
Directors' Decisions and the Law: Promoting Success (eBook) ISBN 9781134445295
Published February 2014
Routledge
£33.32 + £6.66 VAT
(ePub)
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£33.32 + £6.66 VAT
(ePub)
Buy
£33.32 + £6.66 VAT
(ePub)
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The Political Determinants of Corporate Governance in China ISBN 9780415730587
Published October 2013
Routledge
£28.99
£115.00
Progressive Comparative Corporate Governance for the 21st Century ISBN 9780415563826
Published September 2012
Routledge
£110.00
£33.32 + £6.66 VAT
(ePub)
Buy
£33.32 + £6.66 VAT
(ePub)
Buy
£110.00
£33.32 + £6.66 VAT
(ePub)
Buy
The Political Determinants of Corporate Governance in China ISBN 9780415574013
Published March 2012
Routledge
£110.00