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The protection of absentee owners of public corporations in Canada : a realistic analysis of the problems and some thoughts on solutions Choong, Thung-Cheong

Abstract

This paper is essentially concerned with the rights and interests of absentee owners - the public minority shareholders vis-a-vis the corporate directors and controlling shareholders. The author believes that a strict legal analysis of the problems inherent in this human and social relationship is not likely to be very enlightening. A wide contextual approach is instead used. This is hoped to be achieved by discussing in a comprehensive manner the many specific problems inherent in the relationship between absentee owners and controllers of corporations. The author hopes to stress that fairness is to become the ultimate criterion to which all business transactions must be judged. The paper will therefore include a discussion on the concept of fairness as perceived by absentee owners. The conclusions of this paper is that there must be an external agency that is capable of regulating in a substantive way, the activities and investment decisions of corporate controllers. An external agency that will help to incorporate fairness to redefine the relationship of absentee owners and corporate controllers.

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