Academic

It seems that most discussions about increased shareholder power sooner or later focus on whether and to what extent shareholders should have any responsibilities to the corporation or other shareholders.  In a recent article, Lynn Stout and Iman Anabtawi make the case for extending fiduciary duty rules to activists minority shareholders to reduce the possibility of self-interested behavior.  In a less dramatic way, some institutional investors also appear inclined to point out the importance of shareholders exercising their rights responsibly.  Thus, the International Corporate Governance Network --an investor led not for profit company organized under the laws of England and Wales to examine and encourage corporate good governance practices--has generated a statement on shareholder responsibilities, emphasizing the importance of being consistent, engaging in constructive dialogue, and having a clear approach for situations where dialogue fails.