The shareholder value myth
Subtitle: how putting shareholders first harms investors, corporations, and the public
By: Lynn Stout
Publisher: Berrett-Koehler
Published: 2012
Place of publication: San Francisco
Language: eng
Number of pages: 134
ISBN-13: 9781605098135
Subjects: Corporations; Stockholders; Valuation; Corporate governance; Investor relations
Description: Executives, investors, and the business press routinely chant the mantra that corporations are required to "maximize shareholder value." In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest of us as well, leading managers to focus myopically on short-term earnings; discouraging investment and innovation; harming employees, customers, and communities; and causing companies to indulge in reckless, sociopathic, and irresponsible behaviors. And she looks at new models of corporate purpose that better serve the needs of investors, corporations, and society.--Publisher description.
Notes: Includes bibliographical references and index.