With Great Power Comes Great Responsibility: Ideal and Real Types of Shareholders

In: Hanne S. Birkmose (ed.) Shareholders’ Duties, Kluwer Law International, 2017, pp. 69-88

26 Pages Posted: 25 Aug 2017

See all articles by Mathias Siems

Mathias Siems

European University Institute (EUI); University of Cambridge - Centre for Business Research; European Corporate Governance Institute (ECGI)

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Date Written: February 22, 2017

Abstract

This paper explains the ideal types of shareholder as ‘owner’, ‘parliamentarian’ and ‘investor’ and the real types of short-term dispersed and long-term concentrated shareholders. Subsequently, it discusses how those models can be helpful for the conceptual understanding of the current law and the policy debate about future shareholder rights and duties. It is suggested that the ‘empowered shareholder’ can be a guiding objective. However, with greater power also comes greater responsibility: thus, as the other side of the coin, shareholder duties can also be justified.

Keywords: shareholder rights, shareholders’ duties, company law, corporate governance, short-termism, responsible shareholders

JEL Classification: G34, K22, M14, O16

Suggested Citation

Siems, Mathias, With Great Power Comes Great Responsibility: Ideal and Real Types of Shareholders (February 22, 2017). In: Hanne S. Birkmose (ed.) Shareholders’ Duties, Kluwer Law International, 2017, pp. 69-88 , Available at SSRN: https://ssrn.com/abstract=3023793

Mathias Siems (Contact Author)

European University Institute (EUI) ( email )

Via Bolognese 156 (Villa Salviati)
Firenze, 50139
Italy

HOME PAGE: http://www.eui.eu/siems

University of Cambridge - Centre for Business Research ( email )

Top Floor, Judge Business School Building
Trumpington Street
Cambridge, CB2 1AG
United Kingdom

HOME PAGE: http://www.cbr.cam.ac.uk/people/research-associates/mathias-m-siems/

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
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1000 Brussels
Belgium

HOME PAGE: http://ecgi.global/users/mathias-siems

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