shareholders and corporate risk. The findings suggest that celebrity shareholders increased corporate risk. And the main reason is …. Furthermore, this study finds that celebrity shareholders had a greater impact on corporate risk among firms with no independent … directors, a high proportion of management shareholders, a low proportion of institutional investors and those belonging to the …

. This also shows that alignment in the incentives of the minority and majority shareholders helps protect the interests of … the minority shareholders by changing the internal monitoring mechanisms of the managers …

rule is primitive and not practical and it does not provide a mechanism for the shareholders to seek remedies after their …