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An application of game theory to corporate governance

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  • Wong, TKH

Abstract

This paper examines the issue of equity in the distribution of voting power among shareholders of a company. The prevailing one-share-one-vote simple majority voting system is seen to give to certain shareholders voting power out of proportion to their shareholdings, and ways of bringing about a more equitable voting power distribution by changing the threshold for winning or departing from the one-share-one-vote principle are studied. Several effective solutions are found and their practical implications are discussed.

Suggested Citation

  • Wong, TKH, 1989. "An application of game theory to corporate governance," Omega, Elsevier, vol. 17(1), pages 59-67.
    • Handle: RePEc:eee:jomega:v:17:y:1989:i:1:p:59-67
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