Read first-hand the report of the UK parliamentary Business, Energy and Industrial Strategy Committee report which says business must act to address lack of trust.
I remember from my sabbatical when I completed an applied doctorate in business administration that there was a rich research literature on corporate governance, both in terms of theory and empirical analysis.
For a parliamentary select committee to say that business must act is a cop out.
Corporate governance does not improve in the UK because there are powerful vested interested in play protecting the status-quo.
Part of the problem is that the UK does not have a written constitution, unlikes the US and Germany. In both the US and Germany, corporate governance has some serious teeth and executives live in real fear of intervention.
Despite the drum-beating of Brexiteers, the UK is strategically weak and corporate governance is one of the cornerstones of weakness. The City is still a closed shop with interlocking directorships.
But nothing will change with a Conservative Government in power who pander to their chums.
Perhaps, it will take a new centrist party inspired by the UK’s Macron?