The recent wave of corporate scandals has placed corporate executives and boards of directors in the cross hairs of public opinion. However, the tactics of some new wave investors, particularly some breed of hedge funds (which would be more aptly called speculative funds), and their relentless...

This paper examines the various arguments, both favourable and unfavourable, concerning dual classes of shares. It concludes that, as long as minority shareholders are well protected, as it is in Canada, this capital structure provides the advantages of continued, long-term commitment by the...