Lecture Notes in Education Psychology and Public Media

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Lecture Notes in Education Psychology and Public Media

Vol. 53, 13 May 2024


Open Access | Article

Analysis of the Board Oversight and Accountability Mechanism under UK Company Law

Siqi Xu * 1
1 University of Glasgow

* Author to whom correspondence should be addressed.

Lecture Notes in Education Psychology and Public Media, Vol. 53, 32-37
Published 13 May 2024. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Siqi Xu. Analysis of the Board Oversight and Accountability Mechanism under UK Company Law. LNEP (2024) Vol. 53: 32-37. DOI: 10.54254/2753-7048/53/20240022.

Abstract

This paper focuses on the legal framework and the effectiveness of the board oversight and accountability mechanism within UK company law, highlighting its importance and challenges in ensuring sustainable corporate development and protecting investor interests. UK company law aims to protect stakeholders by regulating directors' behaviour, addressing issues such as conflicts of interest and inadequate information disclosure that hinder effective supervision. As remedies, this study suggests enhancing training for board members, improving information disclosure, and incorporating independent directors to mitigate conflicts of interest and increase oversight transparency and efficiency. Through case analysis, this paper further explicates the implementation outcomes and challenges faced, providing references for corporate governance improvement. Ultimately, the research underscores that refining the oversight and accountability mechanisms is crucial to elevate corporate governance standards, fostering long-term corporate prosperity.

Keywords

Board Oversight, Accountability Mechanism, UK Company Law, Implementation Outcomes

References

1. Liu, Y. (2005). The evolution of statutory audit models: An examination with the background of British company law. Financial Law Review, (3), 10. DOI:CNKI:SUN:JRFY.0.2005-03-001.

2. Ge, W.J. (2007). Principles and cases of British company law. China Legal System Publishing House.

3. Davies, P., & Fan, Y.H. (2007). Essentials of British company law. Law Press.

4. Song, D.F. (2024-03-12). Research on corporate anti-takeover and directors' fiduciary duties. China University of Political Science and Law. DOI:CNKI:CDMD:2.2010.159765.

5. Meng, J. (2014). Research on directors' tort liability from the perspective of a comparison between Chinese and American company law. China Ocean University.

6. Chen, D. (1998). Directors' "fiduciary duties" under British company law. Comparative Law Review, 12(3).

7. Qi, L. (2011). Enlightenment from Gome: The power balance between the shareholders' meeting and the board of directors in corporate governance.

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 3rd International Conference on International Law and Legal Policy
ISBN (Print)
978-1-83558-415-6
ISBN (Online)
978-1-83558-416-3
Published Date
13 May 2024
Series
Lecture Notes in Education Psychology and Public Media
ISSN (Print)
2753-7048
ISSN (Online)
2753-7056
DOI
10.54254/2753-7048/53/20240022
Copyright
13 May 2024
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated