This book provides an in-depth examination of the relationship between the UK's dominant corporate governance regime and major corporate failures, with a particular focus on the collapse of Carillion Plc. Through a detailed analysis of the Carillion case and its aftermath, the book highlights a persistent issue in the market's failure to learn from past collapses, allowing similar failures to recur. The exploration of corporate constitutional analysis into Carillion is presented as a thought experiment, aiming to discover new perspectives on these systemic breakdowns. It investigates whether adopting a corporate constitutional paradigm might offer fresh insights and support meaningful reform of the UK's contractualist, shareholder-focused model. The book identifies the dysfunction at the heart of the current framework as a direct cause of corporate collapse and demonstrates how different governance paradigms can shape distinct corporate behaviours and outcomes. It calls for a fundamental rethinking of how corporate power is structured and justified. By critically evaluating the internal and external dimensions of corporate governance, this book provides a timely and thought-provoking contribution for scholars, policymakers, and practitioners seeking more resilient and responsible models of governance.

Presents a novel integration of corporate constitutionalism into UK corporate governance reform Explores a new vision of stakeholding, focusing on procedural justice and inclusive decision-making Offers empirical case studies on corporate failures to highlight systemic governance flaws

Autorentext

Dr. Yifei Yang is currently a lecturer in law at the Law School of Capital University of Economics and Business in Beijing. She specialises in company law and corporate governance, with a particular focus on sustainable business and ESG regulations. Dr. Yang holds a PhD in Law and an LLM (with Distinction) from the University of Bristol. She also has the legal profession qualification in China. She has published articles in respected academic journals, including Hard Shell with Soft Core: Understanding China's New Legislation on ESG Disclosure and Exploring Further Reforms, and China's New Platform for Fostering Little Giants: Understanding the New Rules on the Beijing Stock Exchange in the Journal of Company Lawyer, as well as Who Moved Ant's Cheese? China's Regulatory Reform on Online Microfinance Business in the Butterworths Journal of International Banking and Financial Law.

Inhalt

Chapter 1. Corporate Collapse and Corporate Governance.- Part I.- Chapter 2. Corporate Contractualism.- Chapter 3. Corporate Constitutionalism.- Chapter 4. Corporate Contractualism VS Corporate Constitutionalism A Comparative Evaluation.- Part II.- Chapter 5. The Historical Story of Carillion.- Chapter 6. Carillion's Collapse and Corporate Governance.- Part III.- Chapter 7. Reassessing Carillion's Collapse from Corporate Constitutional Perspective.- Chapter 8. Hypothetical Application of Corporate Constitutionalism to Carillion.- Chapter 9. Critique and Conclusion.