Shareholder stewardship: Autonomy and sociality

Sergakis, K. (2023) Shareholder stewardship: Autonomy and sociality. Journal of Corporate Law Studies, (doi: 10.1080/14735970.2023.2294550) (Early Online Publication)

Abstract

Notwithstanding the prevalent facets of shareholder stewardship as a market concept, this paper advances the argument that there is another constitutive - though well hidden - element that is more apt to fully grasp its distinctive features and better inform market and public policy initiatives. This element regards stewardship's essence as a social norm. Indeed, what this article calls the `stewardship sociality' offers original insights into the dynamics developing between different stewards. In parallel, building upon the premises of a real entity theory of company law, this paper explores the social interactions within and between stewardship groups, by demonstrating that their autonomous action requires a minimally coercive response from law. It is thus `stewardship autonomy', as it is called in this paper, that suggests that any legal reform needs to be confined in soft law instruments that depict the sociality of stewardship within a constantly evolving global landscape.

• Item Type: Articles
• Status: Early Online Publication
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Sergakis, Professor Konstantinos
• Authors: Sergakis, K.
• College/School: College of Social Sciences > School of Law
• Journal Name: Journal of Corporate Law Studies
• Publisher: Taylor & Francis
• ISSN: 1473-5970
• ISSN (Online): 1757-8426
• Published Online: 27 December 2023
• Copyright Holders: Copyright: © 2023 The Author(s)
• First Published: First published in Journal of Corporate Law Studies 2023
• Publisher Policy: Reproduced under a Creative Commons licence