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Revista chilena de derecho

versión On-line ISSN 0718-3437

Resumen

ANGUITA OYARZUN, Christian. INSTITUTIONAL SHAREHOLDERS AND CORPORATE GOVERNANCE: DO INSTITUTIONAL SHAREHOLDERS HAVE AN ACTIVE PARTICIPATION IN PREVENTIVE GOVERNANCE IN THE UNITED KINGDOM? AND IF SO, HOW?. Rev. chil. derecho [online]. 2011, vol.38, n.1, pp.9-32. ISSN 0718-3437.  http://dx.doi.org/10.4067/S0718-34372011000100002.

In this paper the author examines the approach of institutional shareholders to Corporate Governance in the United Kingdom, in particular the issue of preventive governance according to the Combined Code of United Kingdom. Corporate Governance has been developed to solve the agency dilemma that exists in modern corporations. Plenty of legislation has been issued around the world to prevent the scandals of the past; however business needs flexible principles for reasons of efficiency. An important role is played by institutional shareholders. The main thesis of this paper is that preventive governance is the best way to solve the agency dilemma and institutional shareholders have learned the importance of it.

Palabras clave : corporate governance; institutional investors; preventive governance; agency dilemma; codes of best practices.

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