The Transformation of Corporate Governance Regulation in the European Union; Towards a Marketisation of Corporate Control

Who controls the modern corporation and how, and to which purpose, it should be run, has become an essential question for the organisation of production in a capitalist market economy. As the distributional consequences of corporate governance, both in terms of material redistribution as well as, on a more fundamental level, the social power relations that constitute the modern corporation, have become more and more visible, political struggle over corporate governance regulation has intensified. How, then, can we understand the role of the capitalist state vis-à-vis the modern corporation, and what explains the trajectory and transformation of corporate governance regulation?