Prof. Dr. Michael Beurskens (University of Bonn)
Prof. Dr. Ulrich Noack (University of Düsseldorf)
Shareholder’s meeting – From Personal Get-Together to Dynamic Decision-Making
1. Information – Discussion- Decision (by Vote)
In the early 20th century it was self-evident and universally acknowledged that a face-to-face meet-ing was the essential basis for any reasonable decision. Responsible shareholders were dependent on sufficient information, competent discussion to achieve the necessary mutual understanding of a company’s goals. However, shareholder-activism in this traditional sense is also related to geo-graphic proximity: Having the factories‘ chimneys in view certainly induces an investor to get per-sonally involved. The stockholders involved in such traditional corporations were therefore neither widespread nor disinterested – instead, highly involved professional entrepreneurs were informed about and voted on the future …
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