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date: 04 December 2020

Abstract and Keywords

This chapter discusses the problem of principal–principal (PP) conflicts between minority shareholders and controlling shareholders. It shows that these conflicts lead to major governance problems all over the world. It first considers the forerunners of PP conflicts, and then studies the possible remedies in the form of external and internal governance mechanisms. The chapter also emphasizes the relevant organizational consequences of PP conflicts in four crucial areas: tunneling/self-dealing, executive compensation, managerial talent, and mergers and acquisitions.

Keywords: tprincipal–principal conflicts, minority shareholders, controlling shareholders, governance problems, governance mechanisms, organizational consequences, self-dealing, executive compensation, managerial talent, mergers and acquisitions

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