If management has high private benefits and a small equity stake, managers and workers are natural allies against takeover threats.
In Anglo-American law, fiduciary duty is the core legal concept to address conflicts among directors/managers and shareholders.
Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts o
This paper empirically investigates the decisions of publicly traded firms where to incorporate.
This paper evaluates the primary mechanisms for changing management or obtaining control in publicly traded corporations with dispersed ownership.