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Shareholder protection, income inequality and social health : a proposed research agenda

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Ferguson_2016_AF_ShareholderProtection_AAM.pdf (951.2Kb)
Date
09/2017
Author
Ferguson, John
Power, David
Stevenson, Lorna
Collinson, David
Keywords
HG Finance
H Social Sciences (General)
HB Economic Theory
3rd-DAS
BDC
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Abstract
This paper develops a proposed research agenda in order to highlight how corporate governance, accounting and company law are relevant to the consideration of income inequality and wider social health. To illustrate this proposed research agenda, this paper draws on corporate governance research in the law and finance tradition, as well as macro-level studies in accounting concerned with the wider corporate governance context, in order to consider the association between shareholder protection, income inequality and child mortality. Under 5 child mortality is an objective indication of a country’s ability to nurture its children. In an influential body of work, La Porta et al. (1997a, 1997b, 1998, 2008) concluded that a common law legal system which protected the interests of shareholders gave rise to better economic and social outcomes. However, drawing on corporate governance and accounting literature we contend that such a conclusion is flawed. The findings of this paper suggest that common law countries (i.e. those with the greater legal protection for investors) have worse social outcomes in terms of under-5 child mortality.
Citation
Ferguson , J , Power , D , Stevenson , L & Collinson , D 2017 , ' Shareholder protection, income inequality and social health : a proposed research agenda ' , Accounting Forum , vol. 41 , no. 3 , pp. 253-265 . https://doi.org/10.1016/j.accfor.2016.12.005
Publication
Accounting Forum
Status
Peer reviewed
DOI
https://doi.org/10.1016/j.accfor.2016.12.005
ISSN
0155-9982
Type
Journal article
Rights
© 2017, Elsevier Ltd. All rights reserved. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://dx.doi.org/10.1016/j.accfor.2016.12.005
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  • University of St Andrews Research
URI
http://hdl.handle.net/10023/14141

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