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Myth of Shareholder Primacy in English Law

Mukwiri, Jonathan

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Abstract

This article assesses the validity of the shareholder primacy norm, with particular focus on the pre and post Companies Act 2006 implications of shareholder primacy in English company law. Prior to the Companies Act 2006, much was written about shareholder primacy, which assumed it to be the basis of corporate governance in English law. In testing the validity of that assumption, this article examines the historical application of partnership principles to corporate governance, the case law often called in aid of the shareholder primacy norm, and finds that shareholder primacy remains at odds with the tenet of corporate legal personality in English law. It concludes that the assumption that shareholder primacy was the basis of corporate governance in English law is a myth.

Citation

Mukwiri, J. (2013). Myth of Shareholder Primacy in English Law. European Business Law Review, 24(2), 217-241

Journal Article Type Article
Publication Date Jan 1, 2013
Deposit Date Oct 29, 2012
Publicly Available Date Mar 28, 2024
Journal European Business Law Review
Print ISSN 0959-6941
Publisher Kluwer Law International
Peer Reviewed Peer Reviewed
Volume 24
Issue 2
Pages 217-241
Publisher URL http://www.kluwerlawonline.com/document.php?id=EULR2013011

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Copyright Statement
Reprinted from European business law review, 24, 2, 2013, 217-241, with permission of Kluwer Law International.





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