Corporate Governance Since the Managerial Capitalism Era

Cheffins, Brian R.

doi:10.2139/ssrn.2618480

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Corporate Governance Since the Managerial Capitalism Era

Forthcoming, Business History Review

University of Cambridge Faculty of Law Research Paper No. 39/2015

47 Pages Posted: 16 Jun 2015 Last revised: 8 Jul 2015

See all articles by Brian R. Cheffins

Brian R. Cheffins

University of Cambridge - Faculty of Law; European Corporate Governance Institute (ECGI)

Date Written: July 2015

Abstract

Today’s public company executives face a considerably different set of opportunities and constraints than their counterparts from the managerial capitalism era, which reached its apex in the 1950s and 1960s. The growing prominence of corporate governance played a significant role in this process. This paper explores these developments, taking into account in so doing prominent corporate scandals occurring in the first half of the 1970s and early 2000s, the 1980s “Deal Decade”, the “imperial” chief executive phenomenon and changes to the roles played by directors and shareholders of public companies.

Keywords: corporate governance, boards of directors, takeovers, executive pay, shareholder activism

JEL Classification: G34, G38, K22, N22

Suggested Citation: Suggested Citation

Cheffins, Brian R., Corporate Governance Since the Managerial Capitalism Era (July 2015). Forthcoming, Business History Review, University of Cambridge Faculty of Law Research Paper No. 39/2015, Available at SSRN: https://ssrn.com/abstract=2618480 or http://dx.doi.org/10.2139/ssrn.2618480