The level of shareholders' expertise and experience needs to be questioned as they wield greater clout and become more … deeply involved in strategic issues that should be the board's purview. This misdirected involvement distracts shareholders … from their principal and most important role: electing and overseeing boards. To play that role, shareholders must have the …

shareholders are more likely to adopt these provisions. The authors do not find any significant relationship between the use of … provisions is influenced by large, minority shareholders in their battle for representation in the board, and in managerial …