In fact, economic theories of firm behavior often stress the competing interests of management and ownership. With an ownership share in a business, every stock investor has a role in providing oversight on how that company is run.
This challenges the convergence measurement itself because convergence in terms of TFP is not straightforward. Countries belonging to different convergence clubs appear to be experiencing convergence at the level of their club – a concept that is not equivalent to the overall convergence within the EU.