Corporate Law Can No Longer Ignore Shareholder Heterogeneity

Ann M. Lipton, Shareholder Divorce Court, 44 J. Corp. L. 297 (2019).

Da Lin

The shareholder base of modern U.S. public companies is diverse. At one end of the spectrum are large asset managers like BlackRock, which by itself has almost $7 trillion in assets under management. At the far other end are ordinary people—so-called “retail” investors. And between these two ends lie a hodgepodge of institutions, including public pension funds, hedge funds, insurance companies, and university endowments. Should corporate law […]