The debate over how to control the corporate form remains as vital as when the systemic problem associated with the separation of ownership from control was first articulated 75 years ago. The article assesses the utility of accounts that do not take into consideration how political capacity influences the function, scope and efficacy of corporate governance systems. It argues that without a sound ethical underpinning, ad hoc policy responses are doomed to fail. It extends this analysis to the governance of the market, by discussing attempts by the Australian Securities and InvestmentsCommission to reconfigure how the financial services industry manages conflicts of interest. The article argues that the strategy can only succeed if accompanied by much greater coordination at each level of the enforcement pyramid than evidenced to date.
|Number of pages||11|
|Journal||Australian Journal of Corporate Law|
|Publication status||Published - 2007|