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Ownership and control structure indicates the distribution of capital and power in the fi rm. The ownership stake serves as a base to compute the amount of accrued dividends for a given shareholder. Power is inferred from shareholder's control rights who can decide on resource allocation when he/she has enough votes to pass resolutions in the shareholders' general assembly. Thus, ownership and control structure is not neutral which may lead to confl icts of interest among shareholders and/or between shareholders and the manager.

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Extrait de la revue BMI 101