Theory of Corporations - Kabushiki Kaisha Zaidanron

...However, there are theories that deny the concept of member rights, stating that self-interest rights and common interest rights are different in nature, and that common interest rights are not rights that members have in their capacity as members, and that shares are the sum of self-interest rights (theory of denial of member rights), or that they are rights to claim dividends (theory of stock claims). Furthermore, there is also a theory that regards corporations as profit-making foundations and interprets shares as monetary claims (theory of corporation foundations). Stocks [Hiraide Yoshimichi]
[The phenomenon of shareholders becoming corporations]
If shareholders are divided based on whether they are individuals or corporations, the length of time they have held shares, and the number of shares they hold, they can be divided into individual shareholders and corporate shareholders, stable shareholders and floating shareholders, and large shareholders and minority shareholders (one-share shareholders are one type of shareholder).

*Some of the terminology used in relation to the "Corporate Foundation Theory" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…しかし，自益権と共益権とは性質が異なり，共益権は社員が社員たる資格において有する権利ではないとして，社員権という概念を否定し，株式をもって自益権の総体と解し(社員権否認論)，または利益配当請求権と解する説(株式債権論)もある。さらに，株式会社を営利財団法人とみて，株式を金銭債権と解する説(株式会社財団論)もある。株式【平出 慶道】
【株主の法人化現象】
　株主を，個人と法人の別，保有期間の長短，持株数の多少といった観点から分けると，それぞれ，個人株主･法人株主，安定株主･浮動株主，大株主･少数株主(1株株主はこの一種)となる。…

※「株式会社財団論」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報