Shareholders Access to Boiler Room Minutes

Abstract

Some pressure groups propagate that agency costs in companies could be reduced if shareholders would have access to board minutes as the shareholders would have first hand information regarding the affairs of the reporting entity rather than analysing the company through annual reports which tend to be in a standardise format and in summary form. This paper argues that no real tangible benefits would accrue to shareholders as current regulatory instruments provide safeguards for disgruntled shareholders.