The effect of the current measures on stewardship

By

ACKNOWLEDGEMENT

No words can express my appreciation and gratitude to my research advisor _______ through the course of this research, Professor _____has taught me numerous values that extend well beyond the realm of _________ (Your Subject Name). His emphasis on dedication to work and his valuable and practical insights of life are some of the major highlights of my education at The University _________. To Professor _____, I say with great respect, thank you very much.

It is a great honour for me to have Professor _______ on my dissertation committee. His insightful suggestions and comments are a major asset to this research. I learned so much from Professor ______, and I will always remember him as a truly superb teacher. To Professor _____, I am greatly indebted.

I would like to thank Professor ______ for his contribution to this research. Professor _____ has provided me with essential input and guidance as an outside member of my committee. His remarks and suggestions are greatly appreciated.

I would like to thank _____________ for the support they had provided me throughout the research project.

I would like to thank _____________ for their support and help in this research.

DECLARATION

I [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for the academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

CHAPTER 1: INTRODUCTION1

1.1 Background of the study1

1.2 Introduction2

1.3 Research objectives4

1.4 Rationale of the study5

1.5 Methodology5

1.6 Literature Review7

1.6.1 A review of literature on shareholder activism in UK7

1.6.2 A review of literature on stewardship in UK8

1.7 Research question14

1.8 Structure of dissertation15

CHAPTER 2: STEWARDSHIP16

2.1 Definitions16

2.2 Overview of the code of governance in UK16

2.3 Agency theory: The problem that led to need of stewardship in the corporate world17

2.4 Stakeholder theory: A part of stewardship in business18

2.5 Stewardship for directors and shareholders19

2.6 The regulatory regime of corporate governance20

REFERENCES23

BIBLIOGRAPHY28

CHAPTER 1: INTRODUCTION

1.1 Background of the study

In the decades towards the end of the twentieth century, i.e. in the 1990's, there were numerous corporate scandals in America, which had resulted because of the problems of corporate governance in the country. These scandals had occurred in the world famous multinationals, which was a cause of huge concern for people all over the world. Doukas and Lang (2003) had observed that these collapses had sparked off a concern amongst all the investors all over the world, and financial experts had started making a rigorous analysis of the regulative role of the government to safeguard the shareholders interests in the companies. The tool of corporate governance is believed to be essential to maintain a high level of confidence in the investor and to ensure good company performance in order to compensate for a problem like misconduct by the company management. Like USA and a number of countries of the world United Kingdom had to face the face ...