Abstract

This paper presents a critical analysis of dual-class share structures (DCSS) within an ethical and logical framework for ownership and control. Moreover, it contends that the existence of DCSS constitutes a de facto infringement on the ownership rights of shareholders. By adopting a conceptual approach rooted in symbolic logic, the paper demonstrates that DCSS falls short of the ethical precept of “one share, one vote” and is therefore an unjust and inefficient equity arrangement. The paper contributes to the existing literature on DCSS by focusing on the ethical and logical basis of such share structures.