directors in decision-making concerning shareholders and stakeholders. In a sample comprising more than nine hundred directors … shareholders and stakeholders, called shareholderism. Directors' shareholderism correlates with personal values, but also with …

-party transactions and other conflicts of interest situations. Moreover, controlling shareholders often perform some of the functions … that are typical of independent directors in diffuse ownership, such as the hiring and firing of managers and the setting …

it is manifested and how it is exercised. We examine this topic in greater detail, and ask: Are shareholders better or …

terminate poorly performing managers. This finding is consistent with our hypothesis that governance problems in private firms … performing managers. Comparing private firms to their public counterparts, we find that private firms have a lower propensity to … replace poorly performing managers than public firms do and that public firms' exposure to capital market forces (the market …