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Shareholder Actions
by Andrew Charman Johan Du ToitShareholder Actions is a comprehensive guide to the possible actions shareholders may be entitled to pursue, onwhichever side of the dispute they might be involved. As well as unfair prejudice and derivative actions, and the many personal actions arising from the Companies Act 2006, the book covers actions based in common law and equity, as well as actions based in other statutory law. It also explores occurences of directors owing fiduciary duties directly to shareholders and the 'no reflective loss' rule providing a clear view of its scope, but also its limitations.The book refers to judgments in other related jurisdictions when it is necessary to substantiate a submission not already fully and authoritatively addressed by English law. Scottish cases are referred to where the House of Lords or Supreme Court have dealt with an issue, or where the point of law overlaps with English law.There are separate chapters on taxation issues, shareholder claims in Australia, due the large cross pollination between English and Australian law and, for comparative purposes, on Canada where a very different approach is taken with its common law based system and South Africa.In addition to an expanded section on procedure with detailed consideration of the availability of interlocutory relief, the new 3rd edition also covers significant developments in case law that there have been since the 2nd edition including in relation to:- Directors' duties, eg Julien v Evolving Technologies; Popely v Popely; Auden McKenzie (Pharma) Ltd v Patel; Re System Building Services Group; Dickinson v NAL Realisations (Staffordshire) Ltd and in the continuing Sharp v Blank litigation- Remedies following directors' breaches of duties, eg CPS v Aquila Advisory Ltd and in Interactive Technology v Fester - Derivative claims, eg Sevilleja Garcia v Marex Financial Ltd and Homes of England Ltd v Nick Bellman (Holdings) Ltd - Unfair prejudice petitions, eg Re G&G Properties Ltd; re Bankside Hotels Ltd, aka Griffith v Gourgey; George v McCarthy and Allnutt v Nags Head Reading Ltd - Just and equitable winding up, eg Chu v Lau- The doctrine of the non-recoverability of reflective loss, eg the decisions of both the Supreme Court and the Court of Appeal in the important case of Sevilleja Garcia v Marex Financial Ltd where this was considered and ultimately refined; and Re Hut Group Ltd, aka Zedra Trust Co (Jersey) Ltd v Hut Group Ltd - Access to company registers, eg Houldsworth Village Management v Barton- The liability of parent companies for the actions of their subsidiaries in Vedanta Resources Plc and Another v Lungowe
Shareholder Activism: Corporate Governance and Reforms in Korea
by H. RhoShareholder activism in Korea, led by a civil society organization, has been commended by Western economists. How could activism led by such an organization grow and thrive to become the success story of corporate governance reform in developing countries? This book examines this phenomenon using social movement theory to explain.
Shareholder-driven Corporate Governance
by Anita Indira AnandHow effectively can governing mechanisms forged before the surge of activist investment continue to protect shareholders and efficiently order capital markets? This is a pressing question for scholars and practitioners of corporate law, as well as for market participants generally. In order to illuminate the extent to which the growing trend of shareholder activism calls for a new understanding of the kind of shareholder-corporate relations the law should facilitate, this book introduces the concept of shareholder-driven corporate governance. This concept refers to the evident phenomenon of shareholder involvement in corporate governance and offers a normative endorsement of this development. In order to secure the benefits of investors' increasing involvement in corporate affairs, regulatory regimes must grapple with a number of considerations. This book is based on the idea that shareholder corporate governance is a welcome development, but that it does not come without regulatory challenges. For one, it requires rejecting the idea that well-ordered capital markets can be achieved through corporate law which is subservient to private ordering. The mandatory character of, for example, securities regulation is vital to fostering shareholder involvement in corporate affairs. Defenders of shareholder corporate governance must also confront the matter of "wolf packs," or loosely formed bands of investors who defy existing regulatory categories but nonetheless exert collective influence. Regulation that is sensitive to both the inadequacies of past approaches to corporate-shareholder relations and the novel challenges posed by increasing shareholder activism will be able to harness activism, allowing capital markets to flourish.
Shareholder-driven Corporate Governance
by Anita Indira AnandHow effectively can governing mechanisms forged before the surge of activist investment continue to protect shareholders and efficiently order capital markets? This is a pressing question for scholars and practitioners of corporate law, as well as for market participants generally. In order to illuminate the extent to which the growing trend of shareholder activism calls for a new understanding of the kind of shareholder-corporate relations the law should facilitate, this book introduces the concept of shareholder-driven corporate governance. This concept refers to the evident phenomenon of shareholder involvement in corporate governance and offers a normative endorsement of this development. In order to secure the benefits of investors' increasing involvement in corporate affairs, regulatory regimes must grapple with a number of considerations. This book is based on the idea that shareholder corporate governance is a welcome development, but that it does not come without regulatory challenges. For one, it requires rejecting the idea that well-ordered capital markets can be achieved through corporate law which is subservient to private ordering. The mandatory character of, for example, securities regulation is vital to fostering shareholder involvement in corporate affairs. Defenders of shareholder corporate governance must also confront the matter of "wolf packs," or loosely formed bands of investors who defy existing regulatory categories but nonetheless exert collective influence. Regulation that is sensitive to both the inadequacies of past approaches to corporate-shareholder relations and the novel challenges posed by increasing shareholder activism will be able to harness activism, allowing capital markets to flourish.
Shareholder Empowerment: A New Era in Corporate Governance
by Maria Goranova Lori Verstegen RyanIn this volume, leading management experts offer critical insights into the promises and illusions of shareholder empowerment, the discrepancies between theory and practice, and the challenges posed by variations in global corporate governance regimes.
Shareholder Participation and the Corporation: A Fresh Inter-Disciplinary Approach in Happiness
by James McConvillThis study provides a fascinating, fresh analysis of the virtues of shareholder participation in the context of contemporary corporate governance. By applying recent empirical studies to human happiness, McConvill convincingly argues that shareholders, particularly individuals, should be included in the internal governance framework of public corporations and enjoy a direct participatory role in the corporation if they so choose. Recent studies have consistently shown that active participation is one of a limited number of factors that has a positive correlation with levels of personal happiness, however while disciplines within the social sciences have long considered the implications of these findings, legal scholars have failed to grasp their significance. Shareholder Participation and the Corporation addresses the dearth of literature currently available by exploring and evaluating the implications of empirical happiness studies in relation to corporate law and governance, focusing specifically on the role of the shareholder. It provides a compelling argument for those seeking to analyze shareholder participation in a different light.
Shareholder Participation and the Corporation: A Fresh Inter-Disciplinary Approach in Happiness
by James McConvillThis study provides a fascinating, fresh analysis of the virtues of shareholder participation in the context of contemporary corporate governance. By applying recent empirical studies to human happiness, McConvill convincingly argues that shareholders, particularly individuals, should be included in the internal governance framework of public corporations and enjoy a direct participatory role in the corporation if they so choose. Recent studies have consistently shown that active participation is one of a limited number of factors that has a positive correlation with levels of personal happiness, however while disciplines within the social sciences have long considered the implications of these findings, legal scholars have failed to grasp their significance. Shareholder Participation and the Corporation addresses the dearth of literature currently available by exploring and evaluating the implications of empirical happiness studies in relation to corporate law and governance, focusing specifically on the role of the shareholder. It provides a compelling argument for those seeking to analyze shareholder participation in a different light.
Shareholder Primacy and Global Business: Re-clothing the EU Corporate Law (Routledge Research in Corporate Law)
by Lela MélonIn the context of growing public interest in sustainability, Corporate Social Responsibility (CSR) has not brought about the expected improvement in terms of sustainable business. Self-regulation has been unable to provide appropriate answers for unsustainable business frameworks, despite empirical proof that sustainable behaviour is entirely in corporate enlightened self-interest. The lack of success of the soft law approach suggests that hard law regulation may be needed after all. This book discusses these options, alongside the issue of shareholder primacy and its externalities in corporate, social, and natural environment. To escape the "prisoner’s dilemma" European corporations and their global counterparts have found themselves in, help is needed in the form of EU hard law to advocate sustainability through mandatory rules. This book argues that the necessity of these laws is based on the first-mover’s advantage of such corporate law approach towards sustainable development. In the current EU law environment, where codification of corporate law is sought for, forming and defining a general EU policy could not only help corporations embrace this self-enlightened behaviour but could also build the necessary "EU corporate citizenship" atmosphere. Considering the developments in the field of CSR as attempts to mitigate negative externalities resulting from inappropriate shareholder primacy use, the book is centred around a discussion of the shareholder primacy paradigm, its legal position and its (un)suitability for modern global business. Going beyond solely legal analysis, juxtaposing legal principles and argumentation with economic theoretic approaches and, more importantly, real-life examples, this book is accessible to both professionals and academics working within the fields of business, economics, corporate governance and corporate law.
Shareholder Primacy and Global Business: Re-clothing the EU Corporate Law (Routledge Research in Corporate Law)
by Lela MélonIn the context of growing public interest in sustainability, Corporate Social Responsibility (CSR) has not brought about the expected improvement in terms of sustainable business. Self-regulation has been unable to provide appropriate answers for unsustainable business frameworks, despite empirical proof that sustainable behaviour is entirely in corporate enlightened self-interest. The lack of success of the soft law approach suggests that hard law regulation may be needed after all. This book discusses these options, alongside the issue of shareholder primacy and its externalities in corporate, social, and natural environment. To escape the "prisoner’s dilemma" European corporations and their global counterparts have found themselves in, help is needed in the form of EU hard law to advocate sustainability through mandatory rules. This book argues that the necessity of these laws is based on the first-mover’s advantage of such corporate law approach towards sustainable development. In the current EU law environment, where codification of corporate law is sought for, forming and defining a general EU policy could not only help corporations embrace this self-enlightened behaviour but could also build the necessary "EU corporate citizenship" atmosphere. Considering the developments in the field of CSR as attempts to mitigate negative externalities resulting from inappropriate shareholder primacy use, the book is centred around a discussion of the shareholder primacy paradigm, its legal position and its (un)suitability for modern global business. Going beyond solely legal analysis, juxtaposing legal principles and argumentation with economic theoretic approaches and, more importantly, real-life examples, this book is accessible to both professionals and academics working within the fields of business, economics, corporate governance and corporate law.
Shareholder Protection Reconsidered: Derivative Action in the UK, Germany and Greece (Routledge Research in Corporate Law)
by Georgios ZouridakisThis book examines the role and potential of derivative actions in shareholder protection in public limited companies. Derivative actions have been a focal point of legislators’ agendas on shareholder protection, in the past few decades, throughout Europe and beyond. Nevertheless, there remain jurisdictions, such as Greece, which are still devoid of this remedy. Against this backdrop, this book examines whether and how the derivative action may improve shareholder protection, constituting thus a mechanism that justifies legislative attention. It does so in three parts. First, it analyses the desirable role derivative actions assume in protecting shareholder property, monitoring corporate management and mitigating agency costs, alongside their economic implications, introducing the reader to the contemporary international debate on the topic. Having set the desiderata, the second part proceeds with the comparative analysis of Greek, German and UK law – jurisdictions that have recently reformed their provisions on shareholder protection – examining not only the law on derivative actions and their Greek counterpart remedy but also mechanisms of shareholder protection that do, or could, assume functions similar to those of the derivative action. By critically assessing the merits and failures of the respective UK, German and Greek shareholder protection laws, the book then proceeds to offer (in Part III) a model framework of shareholders’ derivative litigation for jurisdictions considering reform. Written in an accessible format, it will be an invaluable resource for anyone interested in this important aspect of company law and corporate governance.
Shareholder Protection Reconsidered: Derivative Action in the UK, Germany and Greece (Routledge Research in Corporate Law)
by Georgios ZouridakisThis book examines the role and potential of derivative actions in shareholder protection in public limited companies. Derivative actions have been a focal point of legislators’ agendas on shareholder protection, in the past few decades, throughout Europe and beyond. Nevertheless, there remain jurisdictions, such as Greece, which are still devoid of this remedy. Against this backdrop, this book examines whether and how the derivative action may improve shareholder protection, constituting thus a mechanism that justifies legislative attention. It does so in three parts. First, it analyses the desirable role derivative actions assume in protecting shareholder property, monitoring corporate management and mitigating agency costs, alongside their economic implications, introducing the reader to the contemporary international debate on the topic. Having set the desiderata, the second part proceeds with the comparative analysis of Greek, German and UK law – jurisdictions that have recently reformed their provisions on shareholder protection – examining not only the law on derivative actions and their Greek counterpart remedy but also mechanisms of shareholder protection that do, or could, assume functions similar to those of the derivative action. By critically assessing the merits and failures of the respective UK, German and Greek shareholder protection laws, the book then proceeds to offer (in Part III) a model framework of shareholders’ derivative litigation for jurisdictions considering reform. Written in an accessible format, it will be an invaluable resource for anyone interested in this important aspect of company law and corporate governance.
The Shareholder Rights Directive II: A Commentary (Elgar Commentaries series)
This Commentary is the first comprehensive work to analyse the revised EU Shareholder Rights Directive (SRD II). SRD II sets a new agenda for engaged shareholders and sustainable companies in the EU, sparking a wider debate on the adoption of duties in company and capital markets law. By providing a systematic and thorough framework for analysis, this Commentary evaluates the purpose and aims of SRD II and further enriches the debate on the usefulness of the EU’s drive to encourage long-term shareholder engagement. Key features include: • article-by-article analysis of each of the provisions as adopted in the revised SRD II • contribution to the ongoing discussions on shareholder rights and duties anticipated to be at the centre of debate for years to come • detailed explanation by leading scholars in the field to ensure complete understanding of each SRD II provision for the reader • exploration of the two pillars of shareholder engagement: the facilitation of shareholder rights and improved communication to bridge procedural gaps and implementation of transparency obligations applicable to companies, investors and service providers. This Commentary will be a key resource for legal practitioners, legislators, scholars and students alike, working in the fields of corporate governance, alternative dispute resolution and financial law.
The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, And The Public (Berrett-koehler Ser.)
by Lynn StoutExecutives, investors, and the business press routinely chant the mantra that corporations are "owned by shareholders" and managers are obliged to "maximize shareholder value." The results have been disastrous. "Shareholder primacy" thinking causes corporate managers to focus myopically on short-term earnings reports at the expense of long-term performance; discourages investment and innovation; harms employees, customers, and communities; and causes companies to indulge in reckless, sociopathic, and socially irresponsible behaviours. In this powerful new book, distinguished legal scholar Lynn Stout proves that there is in fact absolutely no legal obligation for corporations to maximize shareholder value - people just assumed there was. Nor, she demonstrates, is it the optimal economic model - that's just another unproven assumption. And in fact, it is not the best model: Stout presents empirical evidence which shows that companies that put share value first do not outperform companies that emphasize it less. Shareholder primacy actually hurts individual investors by obscuring their specific, diverse interests in the name of serving a hypothetical, homogeneous, abstract shareholder. Stout looks at new theories that not only better serve the needs of real human beings who invest, but of corporations and society as well.
Shareholders and Stakeholders: The Unrealised Promise of Company Law Reform in Post-War Britain (Contemporary Studies in Corporate Law)
by Joanne F SoninThis book explores the evolution of the shareholder in post-war Britain within the context of changing legal, political, economic, and social conditions. It examines how the post-war transformation of the shareholder body influenced relationships amongst stakeholders, impacting corporate behaviour and the legal and political efforts to govern industry and financial markets.The book addresses a number of themes, including: 1) how the movements for democratisation influenced the treatment of shareholder interests and the calls for stakeholder representation; 2) how the rhetoric of change created a narrative that deflected from the lack of systemic legal reforms and protected the status quo; 3) how, in the post-war consensus environment, political positions on equity ownership de-radicalised, which proved unsustainable against a background of increasing political polarisation and industrial unrest; and 4) how the institutionalisation of the post-war shareholder body had profound effects on industry, the financial markets, and the economy.With these themes as a foundation, the evolutionary arch of the post-war shareholder is examined, focusing on developments that influenced the treatment and perception of shareholder and stakeholder interests, including nationalisations, shareholder democracy, corporate purpose, and industrial democracy.The book further considers how these post-war changes contribute to the post-1979 legal treatment of shareholder and stakeholder interests, including subsequent changes to the Companies Act and the development of corporate governance codes. Parallels to contemporary movements for stakeholder capitalism, corporate purpose, and ESG are drawn.The historical analysis of the post-war shareholder provides a framework for considering current questions on shareholder primacy and the demands for systemic legal reforms. These missed opportunities for meaningful changes to the treatment of shareholder interests in UK company law serve as useful precedents for evaluating subsequent periods.
Shareholders and Stakeholders: The Unrealised Promise of Company Law Reform in Post-War Britain (Contemporary Studies in Corporate Law)
by Joanne F SoninThis book explores the evolution of the shareholder in post-war Britain within the context of changing legal, political, economic, and social conditions. It examines how the post-war transformation of the shareholder body influenced relationships amongst stakeholders, impacting corporate behaviour and the legal and political efforts to govern industry and financial markets.The book addresses a number of themes, including: 1) how the movements for democratisation influenced the treatment of shareholder interests and the calls for stakeholder representation; 2) how the rhetoric of change created a narrative that deflected from the lack of systemic legal reforms and protected the status quo; 3) how, in the post-war consensus environment, political positions on equity ownership de-radicalised, which proved unsustainable against a background of increasing political polarisation and industrial unrest; and 4) how the institutionalisation of the post-war shareholder body had profound effects on industry, the financial markets, and the economy.With these themes as a foundation, the evolutionary arch of the post-war shareholder is examined, focusing on developments that influenced the treatment and perception of shareholder and stakeholder interests, including nationalisations, shareholder democracy, corporate purpose, and industrial democracy.The book further considers how these post-war changes contribute to the post-1979 legal treatment of shareholder and stakeholder interests, including subsequent changes to the Companies Act and the development of corporate governance codes. Parallels to contemporary movements for stakeholder capitalism, corporate purpose, and ESG are drawn.The historical analysis of the post-war shareholder provides a framework for considering current questions on shareholder primacy and the demands for systemic legal reforms. These missed opportunities for meaningful changes to the treatment of shareholder interests in UK company law serve as useful precedents for evaluating subsequent periods.
Shareholders’ Duties
by Hanne S. BirkmoseIt is often assumed that shareholders have rights, not duties. In recent years, however, this assumption has come under intense scrutiny in all aspects of company law and capital market law -legislation, the courts, soft law, and scholarship - and, in Europe especially, major changes are under way across a diverse spectrum all the way from revised contractual arrangements to mandatory statutory provisions. Such a shift has important implications for the fundamentals of European company law, and there is a need to examine shareholders' duties and to consider where this trend is taking shareholders and their stance in law. This focused collection of essays by twenty notable scholars addresses this complex subject from a highly informative and useful variety of perspectives. Examining shareholders' duties along three axes - types of investee companies, types of shareholders, and types of business situations - the essays deal with such topics and issues as the following: - shareholders' duties as reflections of the interests they are intended to safeguard; - shareholders' duties to society; - shareholders' disclosure obligations; - duties of parent companies; - institutional investor's fiduciary duty; - how regulatory duties constrain value-reducing forms of opportunism; - the state's continuing duties in the transformation of state-owned companies; - significant shareholders' duties in transactions with the company; and - powerful shareholders' duty not to abuse right. Examining the implications of this shift in discourse - how shareholders' duties are coming to the fore under the impetus of legislation, legal doctrine, case law, and enforcement strategies - as well as its ideological underpinnings, this book offers a comprehensive and in-depth consideration of this rapidly developing field. It will prove of inestimable value not only to policymakers and academics, but also to investors and practitioners committed to creating conditions favourable to sustainable economic growth and responsible business behaviour.
Shareholders’ Liability: The Comparative Law Yearbook of International Business, Volume 38A (Comparative Law Yearbook Series)
by Dennis CampbellShareholder liability was once discussed only in terms of liability for the debts of the corporation in which the shareholders hold interest. That is now a shifting scene, influenced in the main by the emergence of shareholder activism and derivative litigation, with its attendant increase of risk for officers and directors, and “fee shifting” provisions in corporate bylaws, allowing corporations to seek legal fees from unsuccessful shareholder plaintiffs. In this edition of the Comparative Law Yearbook for International Business, practitioners from 10 jurisdictions examine recent developments in shareholder liability. The introductory chapter “Liability of Shareholders in Modern Company Law”, sets the stage for reports from Argentina, Belgium, Brazil, Croatia, Germany, Indonesia, Mexico, Portugal, and the United States.
Shareholders, Strategy and Value Creation: The Case of the IT Sector (Routledge Research in Strategic Management)
by Wojciech Muras Katarzyna Szczepańska-WoszczynaThe central task of contemporary strategic management is to look for sources of value and to achieve above- average firm performance. The effective implementation of a value creation strategy requires a comprehensive approach, including the creation of a systemic management structure aimed at increasing company value.The concept of value- based management involves consciously inspiring, undertaking, and implementing value- oriented actions. Value creation takes place at all levels of management and in all organisational units of the company; therefore, the implementation of all management functions should be assigned to this goal. Thus, the role of managers is gaining importance, especially those who are capital- linked to companies, who set goals and verify them by means of informed decisions aimed at maximising value in the long term.The book presents a multidimensional analysis of shareholders’ impact on company value creation. The authors chose the IT sector as the area of study; this sector, being one in which modern technologies are essential, acquires special significance for the global economy.The book features a review of notions and concepts related to the management of company value and methods of measuring it, the shareholder’s impact on the creation of company value, and factors affecting long- term value creation; an analysis of the places of occurrence, power and direction of a shareholder’s impact on building the long- term capacity of an IT sector company for creating the value thereof, as well as the conceptualisation and operationalisation of such impact; an analysis of the role of shareholders in IT sector companies, a profile of shareholder competence which makes the role of a shareholder unique to the company and fulfils the “value- creating owner” postulate; an analysis of the role of hired managers cooperating with the shareholders with an indication of the significance of mutual development and the supplementation of one’s own skills.The book is dedicated to scientists in the field of strategic management, valuebased management, and leadership; shareholders; students of EMBA and MBA programmes; practitioners in strategic management; and current shareholders of modern technology companies (in particular from the IT sector) and future investors, for all of whom it may offer a valuable outlook on the management principles and practices in the sectors, particularly with respect to the long- term creation of company value.The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 International license.
Shareholders, Strategy and Value Creation: The Case of the IT Sector (Routledge Research in Strategic Management)
by Wojciech Muras Katarzyna Szczepańska-WoszczynaThe central task of contemporary strategic management is to look for sources of value and to achieve above- average firm performance. The effective implementation of a value creation strategy requires a comprehensive approach, including the creation of a systemic management structure aimed at increasing company value.The concept of value- based management involves consciously inspiring, undertaking, and implementing value- oriented actions. Value creation takes place at all levels of management and in all organisational units of the company; therefore, the implementation of all management functions should be assigned to this goal. Thus, the role of managers is gaining importance, especially those who are capital- linked to companies, who set goals and verify them by means of informed decisions aimed at maximising value in the long term.The book presents a multidimensional analysis of shareholders’ impact on company value creation. The authors chose the IT sector as the area of study; this sector, being one in which modern technologies are essential, acquires special significance for the global economy.The book features a review of notions and concepts related to the management of company value and methods of measuring it, the shareholder’s impact on the creation of company value, and factors affecting long- term value creation; an analysis of the places of occurrence, power and direction of a shareholder’s impact on building the long- term capacity of an IT sector company for creating the value thereof, as well as the conceptualisation and operationalisation of such impact; an analysis of the role of shareholders in IT sector companies, a profile of shareholder competence which makes the role of a shareholder unique to the company and fulfils the “value- creating owner” postulate; an analysis of the role of hired managers cooperating with the shareholders with an indication of the significance of mutual development and the supplementation of one’s own skills.The book is dedicated to scientists in the field of strategic management, valuebased management, and leadership; shareholders; students of EMBA and MBA programmes; practitioners in strategic management; and current shareholders of modern technology companies (in particular from the IT sector) and future investors, for all of whom it may offer a valuable outlook on the management principles and practices in the sectors, particularly with respect to the long- term creation of company value.The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 International license.
Shari`a in the Secular State: Evolving Meanings of Islamic Jurisprudence in Turkey (Law, Language and Communication)
by Russell PowellWords in both law and religion can shape power relationships and are often highly disputed. Shari`a lies within the overlap of these two spheres and provides a unique subject for the study of meaning in that liminal space. This book contributes important insights related to Islamic jurisprudence and secularism in the Turkish context and regarding the role of language in contested legal and religious contexts. The study begins by providing a historical framework for the ideas and terms covered, including concepts of religion in general, Shari`a in particular, and secularism in the Turkish state. It goes on to examine empirical research to describe and analyze contemporary Turkish understandings of religion and Shari`a. The author’s research indicates that there is often a disconnect between supporting the adoption of Shari`a and supporting the regulation of everyday behavior through civil codes. Thus, “Shari`a” seems to have taken on new meanings as groups have sought either to appropriate or criticize it. It is a quintessential example of fractured and contextual meaning at the center of both religious and legal traditions. This book is essential reading for both academics and those interested in law, linguistics, history, political science, anthropology, sociology, religious studies, or Near Eastern studies.
Shari`a in the Secular State: Evolving Meanings of Islamic Jurisprudence in Turkey (Law, Language and Communication)
by Russell PowellWords in both law and religion can shape power relationships and are often highly disputed. Shari`a lies within the overlap of these two spheres and provides a unique subject for the study of meaning in that liminal space. This book contributes important insights related to Islamic jurisprudence and secularism in the Turkish context and regarding the role of language in contested legal and religious contexts. The study begins by providing a historical framework for the ideas and terms covered, including concepts of religion in general, Shari`a in particular, and secularism in the Turkish state. It goes on to examine empirical research to describe and analyze contemporary Turkish understandings of religion and Shari`a. The author’s research indicates that there is often a disconnect between supporting the adoption of Shari`a and supporting the regulation of everyday behavior through civil codes. Thus, “Shari`a” seems to have taken on new meanings as groups have sought either to appropriate or criticize it. It is a quintessential example of fractured and contextual meaning at the center of both religious and legal traditions. This book is essential reading for both academics and those interested in law, linguistics, history, political science, anthropology, sociology, religious studies, or Near Eastern studies.
The Shari'a: History, Ethics and Law
by Amyn SajooI.B.Tauris in association with the Institute of Ismaili Studies
The Shari'a: History, Ethics and Law (Muslim Heritage)
by Amyn SajooWhy is the term shari'a-the mention of which conjures up images of a politicised religion in many parts of the world-understood in the ways that it is today? For Muslims and non-Muslims alike, much is read into this term, often with scant regard for its historical, cultural or theological underpinnings. The politics of identity has a profound effect on contemporary life, both secular and religious, and this includes our understandings of the shari?a. Yet at the core of this concept, for Muslims, is the quest for a moral compass by which to navigate a path through life (Qur'an, 45:18), informed deeply by revelation and its interpretation by the Prophet Muhammad as well as his closest Companions. Built on this foundation is an ongoing human endeavour to grasp and lend expression to that teaching-elaborately in law, but no less so in devotional, ethical and customary practices in diverse Shi?i and Sunni Muslim communities, including in the West.
Shari'a and Muslim Minorities: The wasati and salafi approaches to fiqh al-aqalliyyat al-Muslima (Oxford Islamic Legal Studies)
by Uriya ShavitBased on a comparative analysis of several hundred religio-juristic treatises and fatwas (religious decisions), Shari'a and Muslim Minorities: The Wasati and Salafi Approaches to Fiqh al-Aqalliyyat al-Muslima offers the most systematic and comprehensive study to date of fiqh al aqalliyyat al-Muslima - the field in Islamic jurisprudence that treats issues that are unique to Muslims living in majority non-Muslim societies. The book argues that two main contesting approaches to fiqh al-aqalliyyat al-Muslima, the wasati and the salafi, have developed, in part dialectically. While both envision a future Islamizing of the West as a main justification for Muslim residence in the West, the wasati approach is pragmatic, facilitating, and integration-minded, whereas the salafi calls for strict application of religious norms and for introversion. The volume examines diverse and highly-debated juristic issues, including the permissibility of naturalizing in non-Muslim states, participating in their electoral systems and serving in their militaries and police forces; the permissibility of taking mortgages and student loans; the permissibility of congratulating Christians on Christmas or receiving Christmas bonuses; and the permissibility of working in professions that involve breaching of religio-legal prohibitions (e.g. serving pork). Discussions highlight the diversity within contemporary Islamic jurisprudence and introduce new nuances to highly-charged concepts such as proselytizing, integration, and multiculturalism.
Sharia and the Concept of Benefit: The Use and Function of Maslaha in Islamic Jurisprudence (London Islamic Studies)
by Abdul Aziz SattamThe idea of maslaha has a rich history in classical legal thought and literature. Conventionally translated into English as 'general benefit' or 'general interest', it has been the subject, over many centuries, of intense argument in Muslim legal manuals about how the concept should be constructed and how it might be interpreted. Some celebrated scholars have even elevated its status to an independent legal source; while other prominent jurists have spoken of the special strictures which need to be applied to maslaha when considering it within the overall framework of Islamic law. In this thorough and original treatment of the concept, Abdul Aziz bin Sattam offers the first sustained examination of one of the most important tenets of Sharia. Seeking to illuminate not only the intricacies of its application, but also the wider history which has shaped it, the author examines its foundations, theoretical underpinnings and the key debates in both classical and contemporary texts. His book will be a vital resource for all those with an interest in Islamic law, whether of the medieval or modern periods.