Fujita, Kento; Yamada, Akihiro - In: Journal of business economics and management 23 (2022) 2, pp. 263-283
When a company establishes subsidiaries with capital provided by a third party, the subsidiaries' shareholders include … the parent company (controlling shareholders) and minority (noncontrolling) shareholders. When shareholders' interests are … conflicts among shareholders are called principal-principal (PP) conflicts. However, adopting stakeholder-oriented corporate …