Harnessing the Collective Power of Retail Investors

Document Type

Book Chapter


This book chapter in A Research Agenda for Corporate Law (Christopher M. Bruner & Marc Moore, eds.) (Edward Elgar Publishing), suggests a path forward to harness the collective power of new generations of retail investors. Since 2020, new retail investors have been flooding the securities markets, opening a record-breaking number of new brokerage accounts. The overwhelming majority of these new retail investors are Millennials and GenZ’ers. Due to their increasing fiscal power as well as their generational characteristics and affinities, these new generations of retail investors can shift paradigms in corporate governance and in the relation between business corporations and society. This chapter sheds light on the benefits that harnessing the collective power of retail investors can bring about, with an emphasis on easing access to corporate governance for all shareholders, increasing diversity in corporate
governance, bridging the gap between business corporations and society, and nurturing the relation between consumer-facing corporations and new generations of ‘investomers’. This chapter also discusses how corporate governance infrastructure would enhance the engagement of retail investors and allow society and corporations to harness the benefits of the collective power of retail investors.

Publication Date


Book Title

A Research Agenda for Corporate Law