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A decade later, company ownership has still not spread to a broad shareholder base as in the West.
Morton Bahr, the Communications Workers' president, said, "AT&T should seek broad shareholder consensus, not ask shareholders to relinquish their rights before AT&T fully discloses the terms of the breakup".
The research firm said, "If Disney CEO Michael Eisner fails to receive broad shareholder support (which seems likely), Comcast may regard this in part as a mandate to move forward with its bid.
But thanks to tightened board rules, a post-Sarbanes Oxley pro-shareholder sentiment, and in several cases, state laws outlawing greenmail, raiders now have to build a broad shareholder consensus to get their goals accomplished.
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In addition to offering easier access to the U.S. capital markets, U.S. exchanges provide entrée to broader shareholder and investor bases in the U.S., and U.S. capital markets are viewed as the destination of choice for investors and companies alike.
With broader disclosure, shareholders have substantially more information from which to form opinions of the fairness of their company's executive compensation.
A third is a broader movement against shareholder pacts.
It was, for instance, the first Italian bank to lend to co-operatives of young people who farm land confiscated from the Mafia.Yet Banca Etica has attracted a broad range of shareholders.
The corporation also stalled in court, waiting for the result of an appeal by Rosneft to Russia's Constitutional Court, arguing that a law giving broad access to shareholders is unconstitutional.
In this case, "this was a matter of going to a broad spectrum of shareholders and soliciting support," said Dean A. Yoost, head of the financial services advisory practice at PricewaterhouseCoopers in Tokyo.
We've now built an extremely broad base of shareholders at every level of the company.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com