The Role of the Shareholders

2021 ◽  
pp. 195-236
Author(s):  
Eva Micheler
Keyword(s):  
Significant Influence ◽  
Third Parties ◽  
Company Law ◽  
Substantial Influence ◽  
Minority Shareholders ◽  
Short Term ◽  
The Government ◽  
The Uk ◽  
Institutional Shareholders

This chapter explores the role of the shareholders, who have substantial influence over the company. UK company law is shareholder-centred, but it would be wrong to conclude that shareholders are the principals of the directors or of the company. Shareholders normally appoint the directors and auditors, and they have a mandatory power to remove them. The shareholders are also responsible for approving certain transactions, including share issues, takeover defences, political donations, provisions made for employees on the cessation of business, and (under the Listing Rules) certain large transactions. Taken together, these powers give the shareholders significant influence over the management of the company. The rights of shareholders are, however, also subject to constraints. These constraints operate for the benefit of minority shareholders and creditors. The chapter then examines the UK Stewardship Code, through which the government attempts to exercise pressure on institutional shareholders to refrain from requesting short-term return. It also analyses the reflective loss principle, which restricts shareholders in pursuing damages claims against third parties in circumstances where the company has a competing claim.

Placing sustainable development at the heart of government in the UK: the role of law in the evolution of sustainable development as the central organising principle of government

Legal Studies ◽  
2002 ◽  
Vol 22 (4) ◽  
pp. 578-601 ◽  
Author(s):  
Victoria Jenkins
Keyword(s):  
Sustainable Development ◽  
Audit Committee ◽  
Legal Framework ◽  
Legal Obligations ◽  
Statutory Duty ◽  
The Government ◽  
The Uk ◽  
Clear Statement ◽  
Close Investigation

The government has made a commitment to ensure that sustainable development is placed at the heart of decision-making. The UK's strategy has primarily involved the development of voluntary measures to achieve sustainable development in policy-making. These measures are monitored by a Sustainable Development Commission and, most importantly, a parliamentary Environmental Audit Committee. However, a number of public bodies also have a statutory duty in respect of sustainable development. These duties do not create enforceable legal obligations, but may have significant value as a clear statement of policy on the achievement of sustainable development – providing political leadership at the highest level. It is essential to this aim that the government provides a clear message regarding the objective of sustainable development. However, close investigation of these duties reveals not only a partial legal framework, but a number of inconsistencies in the government's approach to the achievement of sustainable development.

scholarly journals Appearance and Development of Short-Term Higher Education Vocational Training in Hungary

2021 ◽  
Vol 11 (1) ◽  
pp. 63-76
Author(s):  
Barbara Máté-Szabó ◽  
Dorina Anna Tóth
Keyword(s):  
Higher Education ◽  
Political Orientation ◽  
Short Term ◽  
Short Cycle ◽  
Higher Education System ◽  
Political Role ◽  
The Social ◽  
The Government ◽  
International Comparative

Abstract Introduction: This article examines the first level of the European higher education system, namely the short-cycle higher education trainings related to the ISCED 5 whose Hungarian characteristics, and its historical changes were described. Methods: We examined participation rates among OECD countries. As there are large differences in the short-cycle higher education trainings in Europe, we have relied on data that makes the different systems comparable. Results and discussion: The interpretation, definition and practical orientation of the trainings varies from country to country, we presented the Hungarian form in connection with the results of international comparative studies and data. To understand the role of trainings, it is essential to get to know their history, especially because short-term higher educational trainings were transformed in several European countries. Conclusions: Prioritising or effacing the social-political role of short-cycle higher education trainings depending on the political orientation of the government and as a part of this, prioritising the disadvantaged regions instead of the disadvantaged students.

‘Who Wants to be a Social Engineer? A commentary on David Blunkett's Speech to the ESRC’

2000 ◽  
Vol 5 (1) ◽  
pp. 74-84 ◽  
Author(s):  
Peter Hodgkinson
Keyword(s):  
Social Science ◽  
Policy Process ◽  
Social Research ◽  
Social Scientists ◽  
Politics And Government ◽  
The Government ◽  
Education And Employment ◽  
Social Scientific ◽  
The Uk

This article is a response to a speech addressed to the Economic and Social Research Council which was made, in February this year, by the UK Secretary of State for Education and Employment, David Blunkett. The speech was entitled ‘Influence or Irrelevance: can social science improve government?’ . Blunkett's programme for engaging social science in the policy process is far from unique and many of the arguments have been heard before. However, the curiosity of the speech lies in the fact that the conception of social science which Blunkett advocates mirrors the approach New Labour itself has to politics and government. This raises some rather interesting difficulties for social scientists. How do we engage in a debate about the role of social scientific research in the policy process when our own conception of the discipline may be radically at odds with that of the government? Furthermore, New Labour's particular conception of the relationship between social and policy-making means that we not only have to contest their notion of what it is we do, but also challenge their conception of the policy process. We cannot ignore this engagement, even if we wanted to. The challenge is to address it and to do so, moreover, in terms which Blunkett might understand. This article is an attempt to start this process.

The Role of the Directors

2021 ◽  
pp. 125-194
Author(s):  
Eva Micheler
Keyword(s):  
Public Interest ◽  
Company Law ◽  
Economic Interests ◽  
Financial Reports ◽  
The Public ◽  
Company Directors ◽  
The Board Of Directors ◽  
The Law ◽  
The Uk

This chapter describes the role of the directors. The duties of the directors are owed to the company and while the shareholders are the primary indirect beneficiaries of those duties, the law integrates the interests of creditors and also of wider society. The law is primarily focused on ensuring compliance with the Companies Act and the constitution rather than with the enhancement of economic interests. The Company Directors Disqualification Act 1986 serves as a mechanism through which the public interest is integrated into company law, while the UK Corporate Governance Code adds a further procedural dimension to the operation of the board of directors. The chapter then looks at how the idea of designing remuneration in a way that guides the directors to act either for the benefit of the shareholder or for the benefit of the company is flawed and has served as a motor justifying increasing rewards without bringing about commensurate increases in performance. It also analyses the duties of the directors to keep accounting records and to produce financial reports.

10. EU Legislation

2018 ◽  
Author(s):  
Ed Beale ◽  
Libby Kurien ◽  
Eve Samson
Keyword(s):  
Direct Access ◽  
Legislative Process ◽  
House Of Commons ◽  
National Parliaments ◽  
Eu Legislation ◽  
House Of Lords ◽  
The Government ◽  
The Uk ◽  
The Eu

This chapter examines the ways in which the UK Parliament formally constrains the government and engages with European Union (EU) institutions. The House of Lords and the House of Commons both have processes to ensure that legislation proposed at the EU level has been properly reviewed before it takes effect in UK law. The ‘scrutiny reserve’, which stipulates that ministers should not agree to proposals under scrutiny, is used to elicit information about the government's negotiating position. Parliament also has a role in examining EU legislation and providing direct access to European institutions. The chapter first provides an overview of the EU legislative process, focusing on three principal EU institutions: member states, the European Parliament (EP), and the European Commission. It also considers the formal role of national parliaments in the EU legislative process, the UK Parliament's scrutiny of the EU legislation and its effectiveness, and parliamentary scrutiny after Brexit.

Formulating Industrial Policy

2019 ◽  
Vol 250 ◽  
pp. R47-R53
Author(s):  
Tim Besley ◽  
Richard Davies
Keyword(s):  
Market Failure ◽  
Data Driven ◽  
Executive Summary ◽  
Structural Weakness ◽  
The Face ◽  
Data Driven Approach ◽  
Economic Contribution ◽  
The Government ◽  
The Uk

Executive SummaryAlongside the challenge of maintaining economic competitiveness in the face of great uncertainty, Brexit brings an opportunity for the government to set out a new industrial strategy. The case for doing so rests on the need to address areas of persistent structural weakness in the UK economy, including low productivity. But it is important that any new industrial strategy be based on appropriately granular data reflecting the real structure of the UK corporate sector: the overwhelmingly preponderant role of services as opposed to manufacturing, for example; the importance of young, fast-growing firms as opposed to SMEs; the relatively high failure rate of companies in the UK; and the relative lack of successful mid-sized firms. Such a data-driven approach might spawn an industrial strategy quite different from the piecemeal programmes of recent years.Internationally, the UK is a laggard in this area, and the recently-created Industrial Strategy Council does not look strong enough to change that position. To move forward, the government needs to make industrial strategy a central plank of economic policy, embedded at the heart of the administration with its own staff and funding, and operations based on a comprehensive review of the economic contribution and potential of various types of firm. Needless to say, it cannot be a substitute for a continuing commitment to competition and markets, or a stalking horse for protectionism: interventions should be justified by carefully-argued market failure arguments, be time-limited, and transparently evaluated.

scholarly journals Reflections on English Law Schemes of Arrangement in Distress and Proposals for Reform

2018 ◽  
Vol 15 (3) ◽  
pp. 472-502 ◽  
Author(s):  
Sarah Paterson
Keyword(s):  
Financial Crisis ◽  
European Commission ◽  
Debt Restructuring ◽  
Reform Agenda ◽  
Crucial Question ◽  
The Future ◽  
Corporate Insolvency ◽  
The Government ◽  
The Uk

The English scheme of arrangement process has, in many ways, proved a reliable friend to distressed companies and their majority finance creditors in the decade following the financial crisis. However, experience of using the scheme process to achieve a debt restructuring has highlighted a number of areas where it could be improved for the present, or to make it more adaptable in the future. This article was written at a time when the Insolvency Service had launched a review of the corporate insolvency framework in the UK (and published many of the responses which it has received to the consultation), and the European Commission had published a proposal for a new Directive setting minimum harmonisation standards for restructuring law. Both the consultation and the proposal have significant implications for the reform agenda, and the Government has published its response to the UK consultation just as this article is going to press. This paper focuses on the introduction of a preliminary moratorium as a gateway to restructuring efforts, the crucial question of how to value the enterprise if a cram down mechanism is introduced and the role of the insolvency practitioner in the scheme context.

scholarly journals The Influence of Economic Growth on the Degree of Autonomy of the Regions and the Absorption of Labor and Social Welfare: Regencies and Cities of Maluku Province

2016 ◽  
Vol 8 (2) ◽  
pp. 234
Author(s):  
Nahu Daud
Keyword(s):  
Economic Growth ◽  
Social Welfare ◽  
Path Analysis ◽  
Significant Influence ◽  
Positive Impact ◽  
Well Being ◽  
County Government ◽  
The Government ◽  
The City

<p>This research aims (1) to analyze and test the influence of economic growth on the degree of autonomy the area in County Government and city of Maluku Province, (2) Analyze and test the influence of economic growth on the absorption of labor on County Government and city of Maluku province (3) Analyze and test the influence of economic growth on the welfare of society at the County Government and the city of Maluku province (4) Analyze and test the influence of degree of autonomous region of absorption of labor on County Government and city of Maluku province, (5) Analyze and test the influence of the degree of autonomy the area of social welfare in the Government District and the city of Maluku province (6) Analyze and test the influence of absorption of labor against the welfare of the community on County Government and City Maluku province. The approach used is the analysis of Path Analysis, intended to answer a relationship direct or indirect causal model has been developed on the basis of theoretical consideration of researchers and certain knowledge. In addition to the causal relationship is based on the data, also based on knowledge, the formulation of hypotheses and logical analysis, so that it can be called path analysis can be used to test a set of causal hypotheses as well as to interpret these relationships.</p><p>The results showed (1) economic growth positively and significantly influence the degree of autonomy of the region. These results lend support to the hypothesis of one stating that economic growth was a significant influence on the degree of autonomy of the region. (2) The influential economic growth positively and significantly to labor absorption. These results lend support to the hypothesis of two stating that the influential economic growth dramatically to labor absorption. (3) Economic growth positively and significantly influences the well-being of the community. These results provide support for the three hypotheses which state that the economic growth affects significantly to the well-being of society. (4) The degree of autonomy the positive and significant effect of absorption of labor. (5) The degree of autonomy to the region in a positive and significant effect on the welfare of society. (6) The positive impact of labor absorption and significantly to the well-being of society. (7) The results of the discussion to confirm that economic growth affectsconsiderably to the well-being of the community through the degree of autonomy of the regions and the absorption of labor. Significant influence occurs because the existence of a direct relationship with the role of the community.</p>

Geospatial data in the UK

2019 ◽  
Vol 33 (1) ◽  
pp. 27-41 ◽  
Author(s):  
Suzanne Jozefowicz ◽  
Merlin Stone ◽  
Eleni Aravopoulou
Keyword(s):  
Western Country ◽  
Geospatial Data ◽  
Content Type ◽  
Research Findings ◽  
Potential Benefits ◽  
Uk Government ◽  
The Government ◽  
The Uk

Purpose The purpose of this paper is to explain the rise of geospatial data, its importance for business and some of the problems associated with its development and use. Design/methodology/approach The paper reviews a certain amount of previously published literature but is based mainly on analysis of the very large number of responses to a consultation paper on geospatial data published by the UK Government. Findings The findings are that while there is strong appreciation of the potential benefits of using geospatial data, there are many barriers to the development, sharing and use of geospatial data, ranging from problems of incompatibility in data definitions and systems to regulatory issues. The implication for governments and for providers and users of geospatial data relates to the need to take a long-term approach to planning in resolving the issues identified. Research limitations/implications The research findings are limited to the UK, but similar findings would be likely in any other large Western country. Practical implications This paper confirms the need for a strong and coherent approach to the planning of geospatial data and systems for the establishment of a clear basis for the different parties to work together and the need to clearly separate the roles of the government in establishing frameworks and standards and the role of the private sector in developing applications and solutions. Social implications Society is increasingly dependent on the use of geospatial data, in improving living standards and dealing with social problems. The recommendations identified in this paper, if followed, will facilitate these improvements. Originality/value The value of this paper is the tight synthesis that it provides of a wide ranging and complex range of responses to the UK Government consultation and placing these responses in the wider context of the development of geospatial data.

scholarly journals Peran Relawan Demokrasi (Relasi) sebagai “Election Marketer” (Studi Kasus Pemilihan Umum Legislatif 2014 di Kabupaten Pasuruan)

2017 ◽  
Vol 2 (1) ◽  
pp. 155-166
Author(s):  
M.Daimul Abror ◽  
Heri Sunarno
Keyword(s):  
Qualitative Research ◽  
Civil Society ◽  
Agency Theory ◽  
Voter Turnout ◽  
Short Term ◽  
The Government ◽  
Civil Societies

AbstractThe voter turnout 3 last period (1999-2009) has decreased significantly. At 1999 92.6%choseen and 7.3% abstains, at 2004 84.1% choseen and 15.9% abstains, at 2009 70.9%choosen and 29.1% abstains. (www.merdeka.com). These conditions encourage KPURI toform Volunteer Democracy (VD) as an agent that helps the socialization of Election 2014.This study aims to comprehensively assess the role of VD as "Election Marketer" in PrincipalAgency Theory (PAT) perspective. This study uses qualitative research with case studyapproach. The results are (1) Relation between KPUD Pasuruan with VD is KPUDPasuruan (principal) provide delegates to VD (agent) (2). Contract model of VD in twoaspects, the type of contract that the contract model is short Term Contracts, and the type ofboth relationship are relation between government and civil society; (3) In carrying out itsrole as election marketer, VD fulfill four criteria in PAT perspective. The weakness of themodel contract of VD are Short Term Contracts must be solved by entering into a Long TermContracts to be interwoven communication simultaneously between the government in thiscase between KPUD Pasuruan with VD as the embodiment of Civil Societies participation isrepresented by five segments groups of voters.keywords: Volunteers Democracy, Election Marketer, ElectionAbstrakTingkat partisipasi pemilih 3 periode terakhir (1999–2009) mengalami penurunan sangatsignifikan, yakni Pemilu 1999 memilih 92,6% dan Golput 7,3%, Pemilu 2004 memilih 84,1%dan golput 15,9% Pemilu 2009 memilih 70,9% dan golput 29,1%. (www.merdeka.com).Kondisi tersebut mendorong KPURI untuk membentuk Relawan Demokrasi (RELASI)sebagai agen yang membantu sosialisasi Pemilu 2014. Penelitian ini bertujuan mengkajisecara komprehensif tentang peran RELASI sebagai “Election Marketer” dalam perpektifPrincipal Agency Theory (PAT). Penelitian ini menggunakan metode penelitian kualitatifdengan pendekatan studi kasus. Penelitian ini menghasilkan (1) Hubungan RELASI denganKPUD Kabupaten Pasuruan adalah KPUD Kabupaten Pasuruan (principal) memberikandelegasi kepada RELASI (agent) (2). Model kontrak RELASI teridentifikasi pada dua aspek,yakni dari jenis kontrak bahwa model kontrak RELASI bersifat short Term Contracts, danjenis hubungan KPUD Kabupaten Pasuruan dengan RELASI mendeskripsikan hubunganantara pemerintah dengan civil society; (3) Dalam menjalankan perannya sebagai electionmarketer, RELASI memenuhi empat persyaratan dalam perspektif PAT. Kelemahan modelkontrak RELASI yang masih bersifat Short Term Contracts harus segera dipecahkansolusinya dengan mengadakan kontrak yang bersifat Long Term Contracts agar dapatterjalin komunikasi yang simultan antara pihak pemerintah dalam hal ini KPUD KabupatenPasuruan dengan RELASI sebagai perwujudan dari Civil Societies participation yangterwakili oleh lima segmen kelompok pemilih.keywords: Relawan Demokrasi, Election Marketer, Pemilihan Umum

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