Corporate Governance and the Central Factors Influencing the Roles of Public and Private Sector Board Directors in the United Kingdom

Abstract

Chapters 1 to 3 discuss role theory, company directorship, the nature and significance of corporate governance and the main hypotheses which include; (i) that profit is the single most important factor, and (ii) that non-executive directors are very influential. The next three Chapters survey the literature, journals and newspapers, which suggest that among the important influencing factors are money, power, profit, aggression, self development, cashflow, City confidence, ethics, survival and the cult of the ‘leaner, fitter, management structure.' The views of 145 questionnaire respondents are summarised in Chapters 7, 8 and 9, as are those of the regulators and the39 interviewees, The questionnaire respondents tend to confirm the views of the literature and the media, the regulators appear to see themselves largely as persuaders, but the 39 interviewees suggest, (1) that cashflow and profit are not as important as other sources indicate, and (ii) that there is no emphasis on the importance of either non-executive directors or of shareholders. Chapters 10, 11 and 12 contain data comparisons and analysis and conclude with propositions for further research which include; (i) the influence of shareholders, and, (ii) the importance, or otherwise, of ethics and sustainable business.