Management expert Colin Mayer makes the case for a root-and-branch reform of corporate law, governance and leadership to ensure big companies fulfil their duties to business and society as well as to their shareholders. And he talks about his leadership of the British Academy initiative, The Future of the Corporation.
In Prosperity: Better Business Makes the Greater Good, Mayer argues business has lost its way over the last 60 years and forgotten that it was established to perform a public purpose and serve society. The emergence of individual and institutional shareholders in the 20th century has led to a focus on corporate profits and shareholder value instead. Mayer says corporate law should require companies to define their purpose and place ownership in the hands of people interested in the company’s long-term success.
Professor Colin Mayer FBA, Peter Moores Professor of Management Studies, Saïd Business School, University of Oxford; Lead for the British Academy initiative The Future of the Corporation
Part of the British Academy day at the FT Weekend Oxford Literary Festival
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