Shareholder rights and their influence on corporate governance have become an increasingly important topic in corporate law. The recent wave of corporate downsizing in the early 1990's has disturbed our collective equilibrium. Many now challenge the basic corporate law tenet that the directors hold a fiduciary duty to the shareholders only and the traditional idea that the proper corporate goal is shareholder wealth maximiza- tion.
Hunter C. Blum,
ESOP's Fables: Leveraged ESOPs and Their Effect on Managerial Slack, Employer Risk and Motivation in the Public Corporation,
U. Rich. L. Rev.
Available at: http://scholarship.richmond.edu/lawreview/vol31/iss5/9