Source: Business Leadership in the Large Corporation (1945), p. 350
“Speak… of the separation of ownership and active leadership. Ordinarily the problem is stated in terms of the divorce between ownership and "control". This last word is badly overused, and it needs to be precisely defined… Our procedure… will be to study the ownership of officers and directors and then to ascertain the extent to which non-management stockholdings are sufficiently concentrated to permit through ownership the wielding of considerable power and influence (control?) over management by an individual, group or another corporation.”
Source: Business Leadership in the Large Corporation (1945), p. 24, footnote 20; as cited in: Marco Becht et al. Corporate Governance and Control, 2005. p. 61
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Robert Aaron Gordon 12
American economist 1908–1978Related quotes
Source: The transformation of corporate control, 1993, p. 10 ; As cited in: François L'Italien, BÉHÉMOTH CAPITAL. Contribution à une théorie dialectique de la financiarisation de la grande corporation. Université Laval, 2012. p. 147 (Many of the following quotes came from this source)

Dissent, Liggett Co. v. Lee, 288 U.S. 517 (1933), at 565-67.
Judicial opinions
Context: Through size, corporations, once merely an efficient tool employed by individuals in the conduct of private business have become an institution-an institution which has brought such concentration of economic power that so-called private corporations are sometimes able to dominate the state. The typical business corporation of the last century, owned by a small group of individuals, managed by their owners, and limited in size by their private wealth, is being supplanted by huge concerns in which the lives of tens or hundreds of thousands of employees and the property of tens of hundreds of thousands of investors are subjected, through the corporate mechanism, to the control of a few men. Ownership has been separated from control; and this separation has removed many of the checks which formerly operated to curb the misuse of wealth and power. And, as ownership of the shares is becoming continually more dispersed, the power which formerly accompanied ownership is becoming increasingly concentrated in the hands of a few... [and] coincident with the growth of these giant corporations, there has occurred a marked concentration of individual wealth; and that the resulting disparity in incomes is a major cause of the existing depression.

Speech in York (2 June 1973), quoted in The Times (4 June 1973), p. 2.
1970s

Can you figure out what you believe, as if you were an owner?
Can you act on those beliefs?
Do you act in a way that adds value to someone else: a customer, a client, a colleague, or a community? Do you take responsibility for the positive and negative impact of your actions on others?
These elements are not a function of your formal position in an organization. They are not a function of title, power, or wealth, although these factors can certainly be helpful in enabling you to act like an owner. These elements are about what you do. They are about taking ownership of your convictions, actions, and impact on others. In my experience, great organizations are made up of executives who focus specifically on these elements and work to empower their employees to think and act in this way.
Source: What You're Really Meant To Do, 2013, p. 22-23

Roy A. Childs, Jr. “Property Rights/Civil Liberties: Two Sides of One Coin,” lecture presented at Stanford University for Cato Institute’s Summer Seminars on Political Economy (August 6, 1978). Reprinted in Liberty Against Power, San Francisco: CA, Fox & Wilkes (1994) p. 210