Shareholder Activism and the Law: The Future of US Corporate Governance

This book provides a complete framework for contemporary shareholder activism and its implications for US corporate governance, which is based on director primacy theory.

Under director primacy theory, shareholders do not wish to be involved in the management of the company; in the rare event that they wish to be involved, it is considered a transfer of power from the board of directors to shareholders, which in turn reduces the efficiency of centralised decision-making in public companies....