Ecchia, Giulio; Gelter, Martin; Pasotti, Piero - 2011
It is one of the well-known cornerstones of corporate governance that (minority) share-holders are subject to a risk of … recognize the role of employees and other "nonshareholder constituencies" during the past years. While potential shareholders … may be reluctant to invest if they are adequately protected against private benefits of control, stakeholders may be …