TITLE

UK Shareholders' Lost Access to Management Information

AUTHOR(S)

Pratt, Ken C.; Storrar, A. Cohn

PUB. DATE

June 1997

SOURCE

Accounting & Business Research (Wolters Kluwer UK);Summer97, Vol. 27 Issue 3, p205

SOURCE TYPE

Academic Journal

DOC. TYPE

Article

ABSTRACT

This paper examines the nature and use of the rights that UK shareholders once had to inspect their companies' books of account, and identifies seven factors that contributed to loss of those rights, mainly in the second half of the 19th century. It also considers whether those seven factors remain relevant today and might therefore inhibit a return to more open access to information. The paper concludes that, although each of the factors continues to apply to some extent, current levels of disclosure may be less than optimal because of subsequent developments in information technology and other changes in the operating environment. It argues, further, that financial reporting databases could help to improve the equity and utility of information disclosure, but are unlikely to be initiated voluntarily by preparers.

ACCESSION #

11896052

Tags: STOCKHOLDERS' pre-emptive rights;  ACCOUNT books;  BUSINESS records;  DISCLOSURE in accounting;  CORPORATION law;  INFORMATION resources;  STOCKHOLDERS

 

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