The IMF uses a system of voting in which Ordinary decisions are made by simple majority but Special decisions require a supermajority of 85 percent, ensuring a United States veto power. Download the paper. Much of this research has studied the a priori voting power of large shareholders and looked at companies from the point of view of control of the company. Control is defined in the sense in which it was originally used by Berle and Means in their seminal study of the US in the 1920's, as influence over voting. Research focuses on the motivation of shareholders to be active owners rather than the conventional assumption that they are active investors.
Shareholders can be passive investors but active owners.
I am in process of compiling a large, detailed up to date database of share ownership of large companies listed on the London Stock Exchange with assistance of research grants from the Nuffield Foundation and the British Academy. This suggests there is, in effect, an element of ability to pay in the state education system with access to the best in educational provision not being universal. This study has an econometric methodology aspect in that it uses limitation on the sample size combined with the design of the sample as a method of controlling biases due to omitted heterogeneity, in contrast to the more conventional approach to econometric sampling based on maximising the number of observations then modelling nuisance variables. The research is also a case study , which seeks to find general phenomena from detailed analysis of particular cases, rather than applying general techniques to comprehensive data sets. Associate Fellow, the Centre for the Study of Globalisation and Regionalisation, Warwick University.