Why should not a large shareholder sometimes name the president?Kakuei Tanaka: 1983 Responding to criticism that candidates for the premiership must win his approval. Quoted in the Financial Times,11 Oct.
Berle and Means ’ book remains the point of departure and the central reference for reflection about corporate governance. It has given rise to differing, even contradictory interpretations, which explains how it could be used in support of opposing theories, notably on the question of the relationship between shareholders and managers. Thus, it has been used to argue in favor of the shareholder conception that is now dominant, even though it contains, as we shall see, a conception of the corporation that is radically different to the contractualist view that underpins the current doctrine of shareholder primacy.Weinstein, O. (2012). "Firm, property and governance: From Berle and means to the agency theory, and beyond]." Accounting, Economics, and Law, Vol. 2 , Iss. 2.