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The shareholder model, also known as the shareholder primacy, agency or simply the standard model, asserts that social welfare is best served if corporate managers are encouraged to pursue shareholder interests, notably by aligning their own interests with them. Thus, “ultimate control over the corporation should rest with the shareholder class”. Corporate managers should be accountable to shareholders alone, as agents to principals, and “charged with the obligation to manage the corporation in the interests of its shareholders; other corporate constituencies, such as creditors, employees, suppliers, and customers, should have their interests protected by contractual and regulatory means rather than through participation in corporate governance”. Minority shareholders should be protected and “the market value of the publicly traded corporation’s shares is the principal measure of its shareholders’ interests”. ^[14]