... investor rights vis-à-vis management as agents.) There are efforts underway for broader stakeholder participation layered on top of increased shareowner democracy. These efforts have occurred in several forms or venues. (1) Earlier there was a corporate constituency movement, whereby some 29 U.S. states effectively increased managerial discretion to consider non-investor interests-especially in acquisition battles. (2) More recently a number of key stock exchanges in Canada and Europe have issued corporate governance reform reports that simultaneously sought to increase managerial accountability to investors and maintain a broader stakeholder orientation. (3) Both Blair and Drucker argued a case for knowledge workers' ownership shares (not necessarily voting rights) on mixed incentive and moral rationales. (4) Most recently an economic democracy movement has developed. (This movement has old roots; see Dahl.) Turnbull (in Australia) has published work advocating that multinational enterprise ownership be transferred over a period of time (via tax incentives) to local ...

See this essay or coursework document in full right now