Whether the firm or its shareholders and other stakeholders spent the money was beside the point.

Insulating executives from losses to stakeholders other than shareholders can be expected to encourage them to make investments and take on obligations that increase the likelihood and severity of losses that exceed the shareholders capital.

Disclosure should be comprehensive to demonstrate to shareholders and other stakeholders whether remuneration is tied to the company's long term performance as measured by recognized criteria.

The experts took the view that there should be sufficient disclosure of the qualifications and biographical information of all board members to assure shareholders and other stakeholders that the members can effectively fulfill their responsibilities.

In a financial restructuring, shareholders typically get wiped out, and bondholders become the new shareholders.

Protection of shareholders

No Shareholders Spring

In particular, the group agreed that the board should disclose structures put in place to prevent conflicts between the interests of the directors and management on the one side, and those of shareholders and other stakeholders on the other.

Direct injury to shareholders

Should Shareholders Be Kings?

Over the next 40 years, however, businesspeople stopped quoting Friedman and began to talk of their responsibilities to their companies stakeholders, a group that includes not only shareholders, but also customers, employees, and members of the communities in which they operate.

They cite the need to deliver high returns for shareholders, implying that tighter regulations undermine shareholders interests.

At the same time, there is a double agency problem, as the ultimate shareholders individual shareholders don t directly control boards and CEOs.

Growth is demanded by shareholders.

One of the major responsibilities of the board of directors is to ensure that shareholders and other stakeholders are provided with high quality disclosures on the financial and operating results of the entity that the board of directors had been entrusted to govern.

Don t confuse saving bankers and shareholders with saving banks.

Their speculative frenzies ruined shareholders, customers, and the economy.

Major shareholders such as institutional investors should not have privileged access to information that is unavailable to minority shareholders.

When the duties of the board in this area are clearly disclosed, shareholders and other stakeholders could find it useful in providing an additional level of comfort with regard to the fact that the financial statements accurately represent the situation of the company.

Draft article 11 Protection of shareholders

The common shareholders in financial firms do not have an incentive to induce executives to take into account the losses that risks can impose on preferred shareholders, bondholders, depositors, and taxpayers. Consequently, governance improvements that make directors more focused on shareholder interests cannot be relied on to tie executive payoffs to the interests of shareholders and non shareholders alike.

Stakeholders

Corporate Political Speech is Bad for Shareholders

Draft article 12 Direct injury to shareholders

In such countries, rules are supposed to limit the controlling shareholders power to advance their interests at the expense of minority shareholders.

Don t confuse saving bankers and shareholders with saving banks. America could have saved its banks, but let the shareholders go, for far less than it has spent.

Shareholders organized themselves into pension funds, investment funds, and hedge funds.

The alternative may be too expensive for shareholders and citizens alike.

In the interest of protecting minority shareholders, the principle of equality of disclosure should be practiced, such that all shareholders receive information equally.

Such managers can be expected to use their influence to obtain and maintain rules that weaken the rights of dispersed shareholders and make it difficult for shareholders to replace them.

The police, for example, claimed that the company declared that their major shareholders accounted only for 64 percent of the company's shareholders, but that, in reality, the major shareholders at Seibu actually owned 88 percent of the company's shares.

The new thinking should put people first, and banks shareholders and bondholders second.

10.2.1 Public stakeholders

10.2.2 Private stakeholders

Shareholders seem to take little interests in pay policy.

But the shareholders of Arcelor have made their choice.

This information is of particular interest to minority shareholders.

Restricting managers incentive pay without changing shareholders incentives will only force shareholders to be more actively involved in the company and choose other ways to increase the level of risk taking.

List of STAKEHOLDERS Consulted

(c) Relationships with stakeholders

10.2 Identification of stakeholders

Thirty years on, shareholders have broken definitively with this system.

Debt equity swaps rescue the banks without rescuing their shareholders.

One set of concerns arises from the perspective of shareholders.

Contributions by and outreach to all relevant stakeholders