Professor Bainbridge...on law, politics, religion, culture & food

Stout on Shareholder Control

My friend and UCLAW colleague Lynn Stout has just published a short paper on shareholder activism in Regulation. Here’s the abstract:

Several commentators, most notably Harvard law professor Lucian Bebchuk, have called for greater shareholder control over public firms. Yet an extensive academic literature suggests that shareholders enjoy net benefits from board governance. Why, then, do so many observers believe shareholders should be given greater influence over boards?

Download the paper from SSRN.