When Shareholder Engagement Hurts More Than It Helps

In an op-ed published in Harvard Business Review, Cécile de Lisle, Executive Director of the Family Business Center at HEC Paris, and her co-authors argue that leaders should focus instead on cultivating shareholder supportiveness — a culture of trust, fairness, and clear roles. Drawing on research with multigenerational family firms in France, the authors show that this quiet, steady alignment strengthens long-term cohesion and resilience more effectively than constant participation.