The Shareholder Value Myth : How Putting Shareholders First Harms Investors, Corporations, and the Public.
Title:
The Shareholder Value Myth : How Putting Shareholders First Harms Investors, Corporations, and the Public.
Author:
Stout, Lynn A.
ISBN:
9781605098159
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (92 pages)
Series:
BK Business
Contents:
Cover Page -- Title Page -- Copyright Page -- Contents -- Preface -- Introduction: "The Dumbest Idea In The World" -- Part I: Debunking The Shareholder Value Myth -- Chapter One The Rise of Shareholder Value Thinking -- Chapter Two How Shareholder Primacy Gets Corporate Law Wrong -- Chapter Three How Shareholder Primacy Gets Corporate Economics Wrong -- Chapter Four How Shareholder Primacy Gets the Empirical Evidence Wrong -- Part II: What Do Shareholders Really Value? -- Chapter Five Short-Term Speculators versus Long-Term Investors -- Chapter Six Keeping Promises to Build Successful Companies -- Chapter Seven Hedge Funds versus Universal Investors -- Chapter Eight Making Room for Shareholder Conscience -- Conclusion: "Slaves of Some Defunct Economist" -- Notes -- Index -- About the Author.
Abstract:
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.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Genre:
Electronic Access:
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