THE TOXIC SIDE EFFECTS OF SHAREHOLDER PRIMACY

The past two decades have seen a dramatic shift in the corporate landscape. For most of the twentieth century, well into the early 1990s, directors and executives of large U.S. corporations saw themselves as stewards of great economic institutions that should serve not only equity investors but also...

Full description

Saved in:
Bibliographic Details
Published inUniversity of Pennsylvania law review Vol. 161; no. 7; pp. 2003 - 2023
Main Author Stout, Lynn A.
Format Journal Article
LanguageEnglish
Published Philadelphia University of Pennsylvania Law School 01.06.2013
University of Pennsylvania, Law School
Subjects
Adler, Barry E
Business structures
Corporate governance
Corporate regulation
Corporation law
Corporations
CREDITORS
Investors
Kahan, Marcel
Laws, regulations and rules
Managerial skills
Public companies
Publicly traded corporations
RESPONSE
Rock, Edward
Rock, Edward B
SECURITIES AND EXCHANGE
Shareholders
SHARES AND SHAREHOLDERS
Side effects
Stockholders
United States. Securities and Exchange Commission
UNITED STATES
Online AccessGet full text

Cover

More Information
Summary:The past two decades have seen a dramatic shift in the corporate landscape. For most of the twentieth century, well into the early 1990s, directors and executives of large U.S. corporations saw themselves as stewards of great economic institutions that should serve not only equity investors but also customers, creditors, employees, suppliers, and the broader society. Today this "managerialist" philosophy is viewed as obsolete and inefficient. Many, and possibly most, public companies now embrace a shareholder-centered vision of good corporate governance that emphasizes "maximizing shareholder value" (typically measured by share price) over all other corporate goals.
Bibliography:UNIVERSITY OF PENNSYLVANIA LAW REVIEW, Vol. 161, No. 7, Jun 2013: 2003-2023
2020-12-02T20:19:49+11:00
UNIVERSITY OF PENNSYLVANIA LAW REVIEW, Vol. 161, No. 7, Jun 2013, 2003-2023
Informit, Melbourne (Vic)
ISSN:0041-9907
1942-8537