What's Wrong with Shareholder Empowerment?
Bernard S. Sharfman
Case Western Reserve University School of Law
March 8, 2012
Journal of Corporation Law, Vol. 37, No. 4, pp. 903-909, 2012
In his keynote address at the Journal of Corporation Law spring banquet (March 8, 2012), Mr. Sharfman discusses the negative impact shareholder empowerment has on the efficiency of decision making at public companies. Shareholder empowerment is the shifting of decision making from the board of directors and executive management to shareholders.
Number of Pages in PDF File: 7
Keywords: corporate law, corporate governance, public company, authority, accountability, private ordering, liquidity traders, information traders, shareholder empowerment, board of directors, agency costs
JEL Classification: K22Accepted Paper Series
Date posted: March 9, 2012 ; Last revised: July 20, 2012
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