Can the weight of some of the biggest and most influential investors persuade the likes of Facebook to alter multiple tiers of voting rights?

As stock exchanges allow dual-class shares in a bid to attract new listings, investors worry they that represent a “watering down” of listing requirements.

Dual-class shares are causing friction between institutional shareholders and stock exchanges across the globe, and big tech firms are the driving force behind it. How will it all pan out? And how will it affect corporate governance?

The short-term nature of stock exchange business models hampers the ability of boards to focus on long-term goals, says directors’ association.