Brexit aside, the news during the summer has been dominated by Sports Direct’s employment practices and corporate governance and the active demise of BHS. Both these cases dramatically highlight the direct connection between Corporate Behaviour, commercial performance and enterprise value. We have witnessed a marked decline in Sport’s Direct equity valuation and a slow-down in commercial sales, together with active shareholder intervention, and on the other hand we wait to see how Sir Philip Green’s actions and conduct will impact on other parts of his retail empire.

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