Corporate Governance after the Death of the King: The Origins of the Separation of Powers in Companies

Alexander Schall

doi:10.1515/ECFR.2011.476

Corporate Governance after the Death of the King: The Origins of the Separation of Powers in Companies

Titel in Übersetzung: Corporate Governance nach dem Tod des Königs: Die Ursprünge der kapitalgesellschaftsrechtlichen Gewaltenteilung

Alexander Schall

Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › Begutachtung

Abstract

Die Ursprünge der kapitalgesellschaftsrechtlichen Gewaltenteilung können bis auf die Souveränität der Monarchen zurückgeführt werden. Die Struktur überlebte den Niedergang der Monarchie und den Aufstieg der Demokratie unbeschadet. Doch wer bewacht heute an der Stelle des "guten Königs" die Geschäfte der Gesellschaften?

Titel in Übersetzung	Corporate Governance nach dem Tod des Königs: Die Ursprünge der kapitalgesellschaftsrechtlichen Gewaltenteilung
Originalsprache	Englisch
Zeitschrift	European Company and Financial Law Review
Jahrgang	8
Ausgabenummer	4
Seiten (von - bis)	476-488
Seitenumfang	13
ISSN	1613-2548
DOIs	https://doi.org/10.1515/ECFR.2011.476
Publikationsstatus	Erschienen - 15.12.2011

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title = "Corporate Governance after the Death of the King: The Origins of the Separation of Powers in Companies",

abstract = "The separation of power in companies can be traced back to the sovereignty of the Kings. It first entered the stage with the chartered companies like the British East India Company. Their governance structure was based on the dualism of private investors and governors installed by the monarch. Companies survived the rise of democracy and demise of monarchy ensuing the age of enlightenment. They rose to glory in the modern world. Large listed companies are still are managed by independent entrepreneurial officers. But who took the place of the good king watching over them? The fall of the thrones left a vacuum here. This lies at the bottom of the debate on shareholder vs. stakeholder supremacy. If we understand history, we might see new ways to answer for whose benefit the company should be governed.",

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N2 - The separation of power in companies can be traced back to the sovereignty of the Kings. It first entered the stage with the chartered companies like the British East India Company. Their governance structure was based on the dualism of private investors and governors installed by the monarch. Companies survived the rise of democracy and demise of monarchy ensuing the age of enlightenment. They rose to glory in the modern world. Large listed companies are still are managed by independent entrepreneurial officers. But who took the place of the good king watching over them? The fall of the thrones left a vacuum here. This lies at the bottom of the debate on shareholder vs. stakeholder supremacy. If we understand history, we might see new ways to answer for whose benefit the company should be governed.

AB - The separation of power in companies can be traced back to the sovereignty of the Kings. It first entered the stage with the chartered companies like the British East India Company. Their governance structure was based on the dualism of private investors and governors installed by the monarch. Companies survived the rise of democracy and demise of monarchy ensuing the age of enlightenment. They rose to glory in the modern world. Large listed companies are still are managed by independent entrepreneurial officers. But who took the place of the good king watching over them? The fall of the thrones left a vacuum here. This lies at the bottom of the debate on shareholder vs. stakeholder supremacy. If we understand history, we might see new ways to answer for whose benefit the company should be governed.

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Corporate Governance after the Death of the King: The Origins of the Separation of Powers in Companies

Abstract

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