Cascading corporatization (companies owned by companies owned by funds, owned by shareholders owned by other entities) breaks all sorts of things. Governance is

Cascading corporatization (companies owned by companies owned by funds, owned by shareholders owned by other entities) breaks all sorts of things. Governance is a big one. The idea of "shareholder ownership" is fairly theoretical, in most cases.. both the concept of "shareholder" and "ownership" need a lot of qualification. "6 people own a share of a bookshop" isn't really an analogy.