"Berle and Means’ book remains the point of departure and the central reference for reflection about corporate governance. It has given rise to differing, even contradictory interpretations, which explains how it could be used in support of opposing theories, notably on the question of the relationship between shareholders and managers. Thus, it has been used to argue in favor of the shareholder conception that is now dominant, even though it contains, as we shall see, a conception of the corporation that is radically different to the contractualist view that underpins the current doctrine of shareholder primacy."
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Olivier Weinstein (2012). "Firm, property and governance: From Berle and means to the agency theory, and beyond]." Accounting, Economics, and Law, Vol. 2 [2012], Iss. 2.
https://en.wikiquote.org/wiki/Adolf_A._Berle
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Adolf A. Berle
Adolf Augustus Berle, Jr. (January 27, 1895 – February 17, 1971) was an American lawyer, educator, author, and diplomat. He was the author of , a groundbreaking work on corporate governance, and an important member of U.S. President Franklin Roosevelt's "".
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