Volume 38 (2017)

Volume 38 (2017) / Issue 2

Demetra Arsalidou, 'Corporate Governance in the Aftermath of the Global Financial Crisis: Issues and Action' (2017) 38 Business Law Review, Issue 2, pp. 42–54


Almost a decade has passed since the global financial crisis emerged; a crisis that has made companies, regulators and society more conscious of the possible failings in regulation, board function and shareholder behaviour. This article discusses three interrelated corporate governance weaknesses linked to the latest financial crisis, and considers ways to reduce their impact in the future. The first part discusses the role of regulatory and supervisory deficiencies as a primary cause of the crisis. It provides a concise overview of the flaws of the UK regulatory authority, and examines the reasons why UK regulation fell short of the high professional standards in the execution of its supervisory obligations. Ways to improve the regulatory and supervisory authorities are also considered. In the next part, the article examines the role played by the two primary internal organs of the company: the directors and the shareholders. It considers issues of directors’ training, accountability and shareholder engagement and deliberates upon the improvements that can be introduced to enhance the role of directors and shareholders within the corporate governance arena.

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ISSN: 0143-6295
ID: BULA2017007