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Introduction

This essay aims to examine the history, meaning, practical function, legislation and development of corporate governance in the United Kingdom. Corporate governance is a subject that has become increasingly important over the last few decades and looks set to continue with continuing corporate failures pushing corporate governance to the forefront.

To fully understand the subject of corporate governance in the United Kingdom we must first define corporate governance and understand it's meaning. Schleifer and Vishny (1997) give a succinct, if rather narrow definition that "corporate governance deals with the way suppliers of finance assure themselves of getting a return on their investment". A broader and more functional definition is given by the OECD (1999).
"Corporate governance is the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among......

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Approximate Word Count: 3945
Approximate Pages: 16 (250 words per double-spaced page)

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