Shareholders and the Atom of Property: Fission or Fusion?
质疑伯利和米恩斯的“所有权与控制权分离”理论，认为股东积极主义和所有权集中已重新融合财产原子，使该理论不再成立。
The separation of ownership and control is said to have exploded the atom of property in the modern corporation. This article suggests that if the atom ever did split, it may have recently been “fused” by a combination of shareholder activism and concentration in ownership representation. After outlining Berle and Means’s seminal thesis and several rebuttal arguments, the article recounts the forces that have led to the reconcentration of ownership and control in shareholders’ hands. This consolidation’s impact on shareholder property rights is then examined, leading to the conclusion that Berle and Means’s explosion thesis no longer holds.