Scholars have made strong arguments for required representation on boards by stakeholders beyond stockholders such as employees,

Question:

Scholars have made strong arguments for required representation on boards by beyond stockholders such as employees, community members, and others, depending on the industry. What might be some of the benefits and costs of such a process?
Stakeholders
A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees,...