But, because publicly traded companies usually have a large amount of capital in place, lax rules would enable insiders to use this capital to their advantage. As a result, insiders benefit from, and prefer to have, rules concerning corporate governance and investor protection that are more lax than those that are in the interest of shareholders and society.
这些重要规则的目的就是保护外部投资者不受内部管理者侵权。一旦这些规则遭到破坏，管理层就失去了一定的约束力，从而损害投资者的权益。