Corporate Governance
Advanced
Private Benefits of Control
Benefits that controlling shareholders or insiders can obtain from control but that are not shared pro rata with all investors.
Why It Matters
The concept explains control premia, ownership concentration, minority-shareholder protection, and the design of takeover, disclosure, and fiduciary-duty rules.
Selected Literature
A short list of directly relevant archive entries.
1998
Introductory
Law and Finance
Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert W. Vishny
Journal of Political Economy
2000
Advanced
Investor Protection and Corporate Governance
Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert W. Vishny
Journal of Financial Economics
2003
Advanced
Corporate Governance and Equity Prices
Paul Gompers, Joy Ishii, and Andrew Metrick
Quarterly Journal of Economics
2008
Intermediate
The Law and Economics of Self-Dealing
Simeon Djankov, Rafael La Porta, Florencio Lopez-de-Silanes, and Andrei Shleifer
Journal of Financial Economics
Related Cases
1988
Corporate Law
Blasius Industries, Inc. v. Atlas Corp.
564 A.2d 651 (Del. Ch. 1988)
Board action taken for the primary purpose of interfering with shareholder voting power.