This chapter focuses on the shareholder and its increasingly important place in international economic law and, in particular, international investment law. The increasing importance of the place and role played by shareholders is a consequence of the increasing importance of multinational corporations on the international scene. The more pronounced place and role played by private actors on the international scene leads to the appearance of “new” real parties in interest. Because shareholders qualify as “investors,”,+ they are protected under international investment treaties and can have recourse to investor-state arbitration. As investors, the protection of shareholders in international investment law must be acknowledged in order to preserve the latter’s legitimacy. This chapter also identifies the different conflicts of interest which may exist among different categories of shareholders (minority and majority shareholders or foreign and domestic shareholders), as well as among shareholders and creditors. These conflicts of interest are important to understanding the dynamic at stake in shareholders’ claims for reflective loss and, in some instances, can justify shareholders’ claims for reflective loss in investment arbitration.

Emotional labor continues to gain popular media interest (Ben-Achour, 2015; Levy, 2018) and scholarly interest (Grandey, Diefendorff, & Rupp, 2013; Hülsheger & Schewe, 2011). Emotional labor is when employees manage emotions as part of a work role (Hochschild, 1983), such as a service provider’s cheery greeting to customers or a therapists’ suppression of shock at their client’s secrets. Prototypically, emotional labor is performed during interactions with the public, by service employees who are selected for and trained in emotional displays with links to financial or professional gains (Grandey, Diefendorff, et al., 2013; Hochschild, 1983), though this conceptualization is broadening to include coworkers and leader–follower interactions. The potential trade-off between the performance goals of the organization and the employees’ well-being is central to the study of emotional labor.

The employee outcome that has the greatest impact on organizational functioning is job performance in its various forms. Most of the literature directed toward understanding job performance has tended to focus on individual factors, such as ability and personality, as well as environmental conditions that might affect it, such as leadership. Far less attention has been given to the role of emotions in performance, except, perhaps, for emotion as a personality trait. In this chapter I will review the literature on different forms of emotion – that is, emotional traits, emotional states, and emotion regulation (emotional labor) – and how they relate to various aspects of performance, specifically counterproductive work behavior (behaviors that harm organizations and organization stakeholders), organizational citizenship behavior (positive performance behavior that goes beyond assigned tasks), task performance, and safety performance (following safety rules in carrying out the job).

The past fifty years have seen an increase in the importance of interpersonal processes at work. Growth in the number of customer service jobs has made emotional labor (EL), defined as the management of emotions as part of the work role (Hochschild, 1983), an increasingly important facet of work. Hochschild (1983) argued that EL is a new form of labor, alongside physical and cognitive labor, in which employees regulate their feelings and emotional expressions “in response to job-based emotional requirements in order to produce emotion toward – and to evoke emotion from – another person to achieve organizational goals” (Grandey, Diefendorff, & Rupp, 2013, p. 18). Consistent with theories of emotion, EL has been characterized as a dynamic process that unfolds within individuals over time (Diefendorff & Gosserand, 2003). As a result, empirical research on EL has increasingly focused on testing hypotheses at the within-person level of analysis.

Affect and emotions play a key role in motivational processes, working together to make sense of one’s experience and to guide behavior. Until recently, however, research on motivation in the workplace has advanced largely independently from research exploring the role of emotions and affect at work. To better understand the human experience of work, we must explore the connections between these aspects as they influence thoughts, feelings, and behaviors related to work. In this chapter we describe theory and research that supports the ultimate development of a unified perspective; namely, an approach that takes into account how emotional experiences affect and interact with motivational forces to influence work behavior and its outcomes.