https://en.m.wikipedia.org/wiki/Principal%E2%80%93agent_prob...
The shareholders are uninformed and disorganized. They might take their money out but that will take a long time. Meanwhile, management and the board control the flow of information and can take decisions together.
https://en.m.wikipedia.org/wiki/Principal%E2%80%93agent_prob...
The shareholders are uninformed and disorganized. They might take their money out but that will take a long time. Meanwhile, management and the board control the flow of information and can take decisions together.