In addition to shareholders, employees also bear a residual risk which arises due to their specific investments. This residual risk presents a valid and legitimate basis for residual claims. In this way, employees are residual claimants due to the fact that their income depends upon a hazardous quasi rent. Therefore, there is a fiduciary duty of board members to protect employees who are exposed to such risks and as a result may then be vulnerable. Do you agree with this statement? If so, why? If not, why not?