Business, Management and Accounting
8 years ago

Shareholders Can Make Business Decisions Without Board Approval, Study Finds

1 view
SSRN Electronic Journal
Shareholder Supremacy in Classical Company Law — With Particular Reference to the Making of Business Decisions by Shareholders on Behalf of Their Company
Peter G. Watts

Paper Summary

Classical company law gives shareholders ultimate control over business decisions, but only when they all agree. Shareholders can give themselves management power for certain decisions, even overruling the board of directors. Recent court cases have raised doubts about this, but historical cases support shareholders' authority.

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