Substitutes for legal protection: corporate governance and dividends in Victorian Britain

Companies in Victorian Britain operated in a laissez-faire legal environment from the perspective of outside investors, implying that such investors were not protected by the legal system. This article seeks to identify the alternative mechanisms that outside shareholders used to protect themselves by examining the dividend policy and governance of over 800 publicly traded companies at the beginning of the 1880s. We assess the importance of these mechanisms by estimating their impact on Tobin's Q. Our evidence suggests that dividends and well-structured and incentivized boards of directors may have played a role in protecting the interests of outside investors.

The Government – Voluntary Sector Compacts: Governance, Governmentality and Civil Society

In 1998 government and the main representatives of the voluntary sector in each of the four countries in the United Kingdom published "compacts" on relations between government and the voluntary sector. These were joint documents, carrying forward ideas expressed by the Labor Party when in opposition, and directed at developing a new relationship for partnership with those "not-for-profit organizations" that are involved primarily in the areas of policy and service delivery. This article seeks to use an examination of the compacts, and the processes that produced them and that they have now set in train, to explore some of the wider issues about the changing role of government and its developing relationships with civil society. In particular, it argues that the new partnership builds upon a movement from welfarism to economism which is being developed further through the compact process. Drawing upon a governmentality approach, and illustrating the account with interview material obtained from some of those involved in compact issues from within both government and those umbrella groups which represent the voluntary sector, an argument is made that this overall process represents the beginning of a new reconfiguration of the state that is of considerable constitutional significance.

Re-Configuring Governance: Politics, Process and Policy - Editorial

(with G Anthony and E Meehan)

An Agreed Peace? The Institutions of Democratic Governance in the Belfast Agreement 1998 and the Northern Ireland Act 1998”

(with G. Anthony).

Self-reported medication non-compliance in the elderly

Objective: To assess self-reported compliance with prescribed medications in a population of elderly patients prior to their hospital admission in an attempt to understand further the factors which influence drug taking patterns.