PhD Studentship project: Rethinking Corporate Governance in Modern Capital Markets: Law, Regulation and Practice

Corporate governance and capital markets are being reshaped by changes in ownership structures, the growth of institutional and passive investment, the expansion of private markets, technological innovation, and increasing demands for corporate accountability. These developments affect how corporations are governed and how power is exercised within modern capital markets. The growing importance of investor stewardship has also expanded expectations of institutional investors as monitors, engaged shareholders and actors responding to portfolio- and system-level risks. At the same time, policymakers and regulators are pursuing reforms intended to promote market competitiveness and economic growth while preserving investor protection, market integrity and public trust. This raises important questions about the purpose of the corporation, the responsibilities of boards and shareholders, the role of institutional investors, and the relationship between corporate governance and capital markets regulation.

The successful applicant will develop an original research project within the broad field of corporate governance, with particular scope for research on investor stewardship and capital markets. Applicants are encouraged to formulate their own research questions and may adopt doctrinal, comparative, transnational, empirical or interdisciplinary approaches. Projects may explore issues relating to institutional investors and investor stewardship, shareholder power and engagement, boards, corporate purpose, sustainability, corporate ownership, the balance between investor protection and market competitiveness, capital markets regulation, public and private markets, financial innovation, digital securities, or other emerging governance and regulatory challenges.

The research gap is both conceptual and practical. Corporate governance scholarship has moved beyond its traditional focus on board–shareholder relations, while capital markets scholarship has examined investor protection, market integrity, market efficiency and regulatory design. Yet the relationship between these areas has received less sustained attention. In particular, further research is needed on how changing patterns of ownership and investor stewardship interact with corporate governance structures and capital markets regulation. Questions about the responsibilities of institutional investors, the exercise of shareholder power, portfolio- and system-level risks, technological innovation, the growth of private markets, and the increasing emphasis on market competitiveness do not fit neatly within a single field of legal scholarship. Existing work is often divided between corporate law, financial regulation and governance studies. The project therefore offers considerable scope for theoretical, doctrinal, comparative or empirical research on the future of corporate governance in modern capital markets.

The project will be supervised by Dr Dionysia Katelouzou and Dr Martin Bengtzen

Applicants should have an interest in corporate law, corporate governance, financial regulation, capital markets, or related areas of legal research. The proposed PhD project will explore the future of corporate governance in modern capital markets, including topics such as investor stewardship, shareholder engagement, institutional investors, corporate purpose, sustainability, capital markets regulation, public and private markets, financial innovation, digital securities, and emerging governance challenges. Applicants are encouraged to develop their own original research questions within this broad field.

Applicants should submit an application for the Law Research MPhil/PhD programme through King’s Apply. On the funding section of your King’s Apply Admissions Application Form, ensure you tick the box ‘Applied to a King’s funding scheme’ and enter the code below.

LAW2027

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