I. 🍃Introduction
- Brief overview of the topic
- Importance of understanding the divorce of ownership from control

II. Explanation of the divorce of ownership from control
- Definition of ownership and control
- Historical context of the separation
- Implications for firms

III. Conduct and performance of firms
- Definition of conduct and performance
- Traditional theories of the firm
- Objectives of firms (profit maximisation, revenue maximisation, sales growth maximisation, satisficing)

IV. Principal-agent problem
- Explanation of the problem
- Impact on firms
- Examples

V. Effects on conduct of firms
- Pursuing objectives other than profit maximisation
- Deviation from owners' wishes
- Examples

VI. Effects on performance of firms
- Impact on efficiency
- Diseconomies of scale
- Financial performance indicators (profits/market share)
- Examples

VII. Comparisons between types of firms
- Family firms
- Listed firms
- Other types of organisations

VIII. Addressing the principal-agent problem
- Designing remuneration schemes
- Payment in shares
- Performance-related pay

IX. Shareholder involvement
- Owners' involvement in controlling firms
- Small shareholders' opportunities to vote on key decisions

X. Examples
- Real-life examples of the divorce of ownership from control

XI. 👉Conclusion
- Overall view on the impact of the divorce of ownership from control on the conduct and performance of firms
- Implications for future research and practice.