Book Review: Enforcing Shareholders’ Duties
| Author | Pedro Dos Santos Marques |
| DOI | 10.1177/0964663920914964 |
| Date | 01 December 2020 |
| Published date | 01 December 2020 |
| Subject Matter | Book Reviews |
Social & Legal Studies 29(6)
References
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HANNE S. BIRKMOSE and KONSTANTINOS SERGAKIS (eds), Enforcing Shareholders’ Duties.
Cheltenham: Edward Elgar Publishing, 2019, pp. 320, ISBN 9781788114868, £100.00 (hbk).
Enforcing Shareholders’ Duties, co-edited by Birkmose and Sergakis, is a great example
of a collection of contributions by corporate law scholars from both civil and common
law jurisdictions. It adds to the ongoing debate of shareholders’ roles in corporate law.
Traditionally, shareholders were viewed as investors and their main role was simply to
contribute to the share capital in exchange of rights and some monetary retribution.
Shareholders are no longer seen as the dormant individual with the spare pocket cash
that wishes to invest in a company to receive a monetary reward. The position changed
with the rise of institutional investors post the 2008 economic crisis. Institutional inves-
tors are, nowadays, the most common shareholder in common law jurisdictions.
Current legal debate in corporate law is vast. One of the most recent and exciting dis-
cussions is on the need to balance shareholders’ rights with shareholders’ duties. Their rights
are recognised and their roles have evolved. The quasi-proprietary quality of shareholders’
rights is often regulated by private law by enforcing duties for the benefit of companies and
their stakeholders. Shareholders’ roles in companies have evolved and among the legal
debate some scholars believe that corporate law ought to regulate their long-term involve-
ment and their fiduciary duties. Enforcing Shareholders’ Duties adds to the ongoing debate
as it analyses the private and public enforcement of shareholders’ duties. The main...
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