Stakeholding and Corporate Governance in the UK

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Abstract
The ‘stakeholder economy’ forms a central part of the New Labour programme for reforming both the public and private sectors. The present paper considers the potential of stakeholding to address the weaknesses of corporate governance in the UK It concludes that stakeholder governance is a concept which owes its appeal to its imprecision, and is unworkable in practice, and that its deployment, rather than imposing accountability on capitalism, merely represents an attempt to make free market capitalism look more acceptable.

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