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Showing posts from December, 2017

DMGT Plc - Not your typical UK Plc

I haven't posted any of these corporate governance case studies for a while. As the updated version of my corporate governance textbook is about to be published on 11 March 2018, I thought it was a good time to investigate the corporate governance of another interesting company. The company I have chosen is the Daily Mail and General Trust Plc (DMGT Plc), a UK company. This is a media company which owns a.o. the tabloid The Daily Mail and the free newspaper Metro. It also has a holding in Euromoney Institutional Plc and Zoopla.



I chose DMGT Plc as it is not your run-of-the-mill UK stock-market listed Plc. The typical example of a UK exchange-listed corporation would be a Plc with dispersed ownership and weak control (see Section 3.3 of my textbook International Corporate Governanceor its updated version Corporate Governance. A Global Perspective). This is what I call combination A in my textbook (see below figure).


It what follows, I shall be using the 2017 annual report of DMGT P…

Changes to Cengage Edition "Corporate Governance. A Global Perspective"

The Cengage edition entitled "Corporate Governance. A Global Perspective" is an improved and updated version of "International Corporate Governance" published by Pearson Prentice Hall in 2012. The table of contents of the Cengage edition can be found here. The Cengage edition was published in spring 2018. Changes to Cengage Edition The structure of the textbook has changed to improve the flow throughout the book. Part II, which used to be entitled “International Corporate Governance”, is now called “Macro Corporate Governance”. Parts III and IV have been swapped around to improve progression through the book. Chapter 5 on “Incentivising Managers and the Disciplining of Badly Performing Managers”, which used to be in Part II, has been moved to Part III. A new chapter, Chapter 7 on “Boards of Directors”, including some of the material which used to be in old Chapter 5, has also been added to Part III. Throughout the book, many of the case studies in the textboxes have…