Answer: dispersed ownership and dispersed voting power

## Explanation Shareholder control over management depends on both ownership concentration and voting power concentration: - **Dispersed ownership + Dispersed voting power (A)**: - Many small shareholders with no individual significant voting power - Creates severe free-rider problem in monitoring - Management has maximum autonomy - **Least shareholder control** - **Dispersed ownership + Concentrated voting power (B)**: - While ownership is dispersed, voting power is concentrated (e.g., through dual-class shares) - Controlling shareholders can still exercise oversight - **Concentrated ownership + Concentrated voting power (C)**: - Large shareholders with significant voting power - Strongest monitoring incentives - Most shareholder control **Correct answer is A** because the combination of dispersed ownership AND dispersed voting power creates the weakest shareholder oversight mechanism, giving management the most independence from shareholder control.

Author: LeetQuiz Editorial Team