[CCLA] Public Seminar- Corporate Law and Governance at the Crossroads: Power, Control, and Shareholder Rights in Controlled Companies

Public Seminar- Corporate Law and Governance at the Crossroads: Power, Control, and Shareholder Rights in Controlled Companies
 

This seminar, featuring internationally recognized leaders in US, Chinese, Singapore, and Asian corporate law and governance, examines cutting-edge research on the interplay between controlling shareholders, boards, and activist investors—issues directly relevant to Singapore’s controlling shareholder dominated corporate governance environment.

The first presentation challenges recent Delaware court decisions applying heightened scrutiny to controlling shareholders, arguing such strict scrutiny is economically unnecessary outside of freeze-outs. It proposes intermediate scrutiny only when controller influence distorts board processes, focusing on directors who prioritize controller interests over corporate interests.

The second presentation reveals empirical evidence on the overlooked rise of shareholder activism in China through 156 major campaigns (2007-2023). Contrary to Western assumptions, the research shows no significant difference in success rates between state-owned and privately-owned enterprises, suggesting a thriving rules-based market for shareholder activism with limited political interference in China.

Together with the discussion following the presentations, this seminar offers valuable insights into legal and market mechanisms driving corporate governance in controlled companies—a defining feature of Singapore's business landscape. This will benefit legal practitioners and academics engaged in corporate law and governance matters within controlling shareholder environments.
 

PROGRAMME