The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public

- Proves that shareholder primacy has no basis in law or economics and does not deliver better bottom-line results - Suggests better ways to think about shareholders and their relationship to corporations - Written by one of America’s most distinguished legal scholars Executives, investors, and the business press routinely chant the mantra that corporations are required to “maximize shareholder value.” The results have been disastrous. “Shareholder primacy” thinking causes corporate managers to focus myopically on short-term earnings reports at the expense of long-term performance; discourages investment and innovation; harms employees, customers, and communities; and causes companies to indulge in…