ABSTRACT
The corporate governance has emerged as an issue of far-reaching import, dealing with the proper and efficient conduct of individual businesses, and arguing the virtues and vices of the differing national systems and the circumstances that shape such conduct. One influential assessment of corporate governance and its implications is derived from the work of economists, and concentrates on the ownership of giant, dominant companies, the rights of shareholders, and on their ability to instil profit-maximising disciplines. Business organization in the Japanese shipbuilding industry is Mistsubishi Goshi Kaisha, established as a public company in 1893. The British shipbuilding, engineering and armaments industry of the inter-war period is often and justifiably paraded as an example of competitive nemesis. The evidence and detail available about so many individual cases prohibits absolute certainty on the quality of corporate governance, taken from a contemporary perspective, in key sectors of the British economy.
