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The Fallacy of Property Rights' Rhetoric in the Company Law Context: From Shareholder Exclusivity to the Erosion of Shareholders' Rights

Koutsias, Marios (2017) 'The Fallacy of Property Rights' Rhetoric in the Company Law Context: From Shareholder Exclusivity to the Erosion of Shareholders' Rights.' International Company and Commercial Law Review, 28 (6). 217 - 233. ISSN 0958-5214

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Abstract

Questions the dominant view that shareholders have a property right over any company in which they invest, the basis of the notion of shareholder supremacy. Argues that "property rights" no longer apply within the modern company law context as share ownership has been decoupled from voting rights. Suggests that the derivative action mechanism of the Companies Act 2006 illustrates that shareholders cannot exercise effective control of management.

Item Type: Article
Uncontrolled Keywords: Corporate governance; Derivative claims; Proprietary rights; Shareholders' rights
Subjects: K Law > K Law (General)
Divisions: Faculty of Humanities > Law, School of
Depositing User: Jim Jamieson
Date Deposited: 08 Jun 2017 14:25
Last Modified: 18 Sep 2018 14:15
URI: http://repository.essex.ac.uk/id/eprint/19771

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