Owning 30% of a company usually gives you just as much voting power as if you owned the whole thing.
Most corporate laws assume influence scales linearly with the number of shares you own. By calculating 'pivotality'—how often a specific shareholder's vote actually determines the outcome—this research shows that ownership concentration among others can make a minority holder the absolute decider of every corporate decision.
Shareholder Voting Power
SSRN · 6300182
This paper provides a quantitative analysis of shareholder voting power in U.S. public companies. I measure voting power as a shareholder's pivotality in all possible coalitions, isolating structural influence derived from share ownership while abstracting from realized voting behavior and proposal selection. Because exact pivotality calculations are tractable only for a limited number of shareholders, I develop a hybrid method that combines precise enumeration for the largest holders with appro