The end of the 'End of History for Corporate Law'?

Michelle Anne Welsh, Peta Spender, Irene Lynch Fannon, Katherine Helen Hall

Research output: Contribution to journalArticleResearchpeer-review


Henry Hansmann and Reinier Kraakman s article The End of History for Corporate Law has been highly influential in corporate law scholarship since its publication in 2001. Our contribution revisits the theory advanced in that article and examines both the significant contribution it made and the key criticisms that can be levelled against it. The theory espoused by Hansmann and Kraakman can be criticised because in many respects it does not fit the changing reality of corporate law. Indicators of this include the continued importance of the stakeholder model, the impact of transnational regulation on national corporate laws and, in some jurisdictions, the acceptance of a public role for corporate law. In addition, contrary to their convergence thesis, national corporate governance laws are thriving and company law and corporate governance codes continue to reflect the cultural heritage, public policy choices and prevailing ideological and political principles of the states enacting them.
Original languageEnglish
Pages (from-to)147 - 168
Number of pages22
JournalAustralian Journal of Corporate Law
Issue number2
Publication statusPublished - 2014

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