The GameStop saga and meme stock frenzy have shown the pathway to the most disruptive revolution in corporate governance of the millennium. New generations of retail investors use technologies, online forums, and gaming dynamics to coordinate their actions and obtain unprecedented results. Signals indicate that these investors, whom we can dub wireless investors, are currently expanding their actions to corporate governance. Wireless investors' generational characteristics suggest that they will use corporate governance to pursue social and environmental causes. In fact, wireless investors can set in motion asocial movement able to bring business corporations to serve their original partly-private-partly-public purpose. This Article discusses premises, architecture, and characteristics of the movement that would cause business corporations to remarry their partly-private -partly-public purpose. If such a movement proves successful, the paradigm shift that finally makes corporations serve the welfare of a broader range of stakeholders would happen at the hands of shareholders.
GameStop Corp., Corporate governance, Environmental responsibility, Shareholder activism, Corporations, Individual investors, Memes, Internet forums
Date of Authorship for this Version
Sautter, Christina M. and Ricci, Sergio Alberto Gramitto, "Corporate Governance Gaming: The Collective Power of Retail Investors" (2021). Journal Articles. 454.