Shareholder Primacy And Global Business

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Shareholder Primacy and Global Business

Lela Mélon
Shareholder Primacy and Global Business Book PDF

Author : Lela Mélon
Publisher : Routledge
Page : 220 pages
File Size : 45,9 Mb
Release : 2019-03-13
Category : Law
ISBN : 9780429590139

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Shareholder Primacy and Global Business by Lela Mélon Pdf

In the context of growing public interest in sustainability, Corporate Social Responsibility (CSR) has not brought about the expected improvement in terms of sustainable business. Self-regulation has been unable to provide appropriate answers for unsustainable business frameworks, despite empirical proof that sustainable behaviour is entirely in corporate enlightened self-interest. The lack of success of the soft law approach suggests that hard law regulation may be needed after all. This book discusses these options, alongside the issue of shareholder primacy and its externalities in corporate, social, and natural environment. To escape the "prisoner’s dilemma" European corporations and their global counterparts have found themselves in, help is needed in the form of EU hard law to advocate sustainability through mandatory rules. This book argues that the necessity of these laws is based on the first-mover’s advantage of such corporate law approach towards sustainable development. In the current EU law environment, where codification of corporate law is sought for, forming and defining a general EU policy could not only help corporations embrace this self-enlightened behaviour but could also build the necessary "EU corporate citizenship" atmosphere. Considering the developments in the field of CSR as attempts to mitigate negative externalities resulting from inappropriate shareholder primacy use, the book is centred around a discussion of the shareholder primacy paradigm, its legal position and its (un)suitability for modern global business. Going beyond solely legal analysis, juxtaposing legal principles and argumentation with economic theoretic approaches and, more importantly, real-life examples, this book is accessible to both professionals and academics working within the fields of business, economics, corporate governance and corporate law.

Company Law and Sustainability

Beate Sjåfjell,Benjamin J. Richardson
Company Law and Sustainability Book PDF

Author : Beate Sjåfjell,Benjamin J. Richardson
Publisher : Cambridge University Press
Page : 373 pages
File Size : 42,7 Mb
Release : 2015-05-21
Category : Business & Economics
ISBN : 9781107043275

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Company Law and Sustainability by Beate Sjåfjell,Benjamin J. Richardson Pdf

This book advances an innovative, multi-jurisdictional argument for the necessity of company law reform to reorient companies towards environmental sustainability.

The Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability

Beate Sjåfjell,Christopher M. Bruner
The Cambridge Handbook of Corporate Law Corporate Governance and Sustainability Book PDF

Author : Beate Sjåfjell,Christopher M. Bruner
Publisher : Cambridge University Press
Page : 758 pages
File Size : 47,9 Mb
Release : 2019-12-12
Category : Law
ISBN : 1108473296

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The Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability by Beate Sjåfjell,Christopher M. Bruner Pdf

The emerging field of corporate law, corporate governance and sustainability is one of the most dynamic and significant areas of law and policy in light of the convergence of environmental, social and economic crises that we face as a global society. Understanding the impact of the corporation on society and realizing its potential for contributing to sustainability is vital for the future of humanity. This Handbook comprehensively assesses the state-of-the-art in this field through in-depth discussion of sustainability-related problems, numerous case studies on regulatory responses implemented by jurisdictions around the world, and analyses of predominant strategies and potential drivers of change. This Handbook will be an essential reference for scholars, students, practitioners, policymakers, and general readers interested in how corporate law and governance have exacerbated global society's most pressing challenges, and how reforms to these fields can help us resolve those challenges and achieve sustainability.

Shareholder Primacy and Corporate Governance

Shuangge Wen
Shareholder Primacy and Corporate Governance Book PDF

Author : Shuangge Wen
Publisher : Routledge
Page : 271 pages
File Size : 54,8 Mb
Release : 2013-10-08
Category : Law
ISBN : 9781136019845

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Shareholder Primacy and Corporate Governance by Shuangge Wen Pdf

Rising defaults in the financial market in 2007, the current widespread economic recession and debt crisis have added impetus to existing doubts about companies’ governance, and cast new light on future trends in shareholder-oriented corporate practice. Taking account of these developments in the field and realising the current need for changes in governance, this book offers a thorough exploration of the origins, recent changes and future development of the corporate objective—shareholder primacy. Legal and theoretical aspects are examined so as to provide a comprehensive and critical account of the practices reflecting shareholder primacy in the UK. In the wake of the financial crisis, this book investigates the direction of future policy, with particular attention to changes in governing rules and regulations and their implications for preserving the objective of shareholder primacy. It examines current UK and EU reform proposals calling for long-term and socially-responsible corporate performance, and the potential friction between proposed legal changes and commercial practices. This book will be useful to researchers and students of company law, and business and management studies.

The Shareholder Value Myth

Lynn Stout
The Shareholder Value Myth Book PDF

Author : Lynn Stout
Publisher : Berrett-Koehler Publishers
Page : 151 pages
File Size : 43,8 Mb
Release : 2012-05-07
Category : Business & Economics
ISBN : 9781605098166

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The Shareholder Value Myth by Lynn Stout Pdf

An in-depth look at the trouble with shareholder value thinking and at better options for models of corporate purpose. 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. “A must-read for managers, directors, and policymakers interested in getting America back in the business of creating real value for the long term.” —Constance E. Bagley, professor, Yale School of Management; president, Academy of Legal Studies in Business; and author of Managers and the Legal Environment and Winning Legally “A compelling call for radically changing the way business is done... The Shareholder Value Myth powerfully demonstrates both the dangers of the shareholder value rule and the falseness of its alleged legal necessity.” —Joel Bakan, professor, The University of British Columbia, and author of the book and film The Corporation “Lynn Stout has a keen mind, a sharp pen, and an unbending sense of fearlessness. Her book is a must-read for anyone interested in understanding the root causes of the current financial calamity.” —Jack Willoughby, senior editor, Barron’s “Lynn Stout offers a new vision of good corporate governance that serves investors, firms, and the American economy.” —Judy Samuelson, executive director, Business and Society Program, The Aspen Institute

Corporate Sustainability

Zabihollah Rezaee
Corporate Sustainability Book PDF

Author : Zabihollah Rezaee
Publisher : Business Expert Press
Page : 93 pages
File Size : 54,7 Mb
Release : 2021-07-14
Category : Business & Economics
ISBN : 9781637420874

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Corporate Sustainability by Zabihollah Rezaee Pdf

Business organizations have recently been encouraged by investors, regulators, and communities to define their purposes, values, and fiduciary duties of creating shared value for all stakeholders. Public companies have traditionally operated under the corporate model of “shareholder primacy” with the primary purpose of generating returns for shareholders and thus corporate activities are managed toward creating shareholder value. The stakeholder primacy system encourages directors and executives to focus on managing corporate activities toward creating shared value for all stakeholders. The role of the board of directors under stakeholder primacy/capitalism as opposed to shareholder primacy/capitalism is to oversee the managerial function of focusing on the long-term sustainability performance, effectively communicating sustainability performance information to all stakeholders. A shift away from the shareholder primacy model and toward the stakeholder primacy model has been gaining momentum worldwide in recent years as investors demand, regulators require, and companies define the “profit-with-purpose” mission in creating shares value for all stakeholders. This book offers guidance to organizations for considering both shareholder primacy and stakeholder primacy in defining their mission of “profit-with-purpose” and in creating shared value for all stakeholders. It also highlights how people, business and resources collaborate in a business sustainability and the stakeholder primacy model in creating shared value for all stakeholders. Anyone who is involved with business sustainability and corporate governance, the financial reporting process, investment decisions, legal and financial advising, audit functions, and corporate governance education including directors, executives, investors, and auditor will be interested in this book.

The Shareholder Value Myth

Lynn Stout
The Shareholder Value Myth Book PDF

Author : Lynn Stout
Publisher : ReadHowYouWant
Page : 204 pages
File Size : 46,9 Mb
Release : 2012-05
Category : Business & Economics
ISBN : 1459638697

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The Shareholder Value Myth by Lynn Stout Pdf

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 co...

A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)

Ed Chambliss
A One Legged Stool How Shareholder Primacy Has Broken Business And What We Can Do About It Book PDF

Author : Ed Chambliss
Publisher : Best Friend Brands, LLC
Page : 270 pages
File Size : 45,8 Mb
Release : 2022-03-14
Category : Business & Economics
ISBN : 9798985448702

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A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It) by Ed Chambliss Pdf

Have you ever wondered if business needs to be so...unbalanced? Is putting shareholders above everyone else the only way for private enterprise to be successful? Is that "just the way it is?" The short answer is "no." Before "shareholder primacy" took hold in the 1970s, investors weren't more important than other stakeholders. Companies balanced the interests of all the legs of the corporate stool - customers, employees, communities, and shareholders - and everyone's life got better. So, what happened? How did we get to today, where "maximizing shareholder value" is seen as the panacea for all the world's ills? And, more importantly, what's the path forward that allows business to profit by applying its significant resources to solving society's problems, rather than making them worse? We all rely on the stool of business to elevate our lives. Let's fix it before it collapses.

Stakeholder Capitalism

Klaus Schwab
Stakeholder Capitalism Book PDF

Author : Klaus Schwab
Publisher : John Wiley & Sons
Page : 311 pages
File Size : 43,8 Mb
Release : 2021-01-27
Category : Business & Economics
ISBN : 9781119756132

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Stakeholder Capitalism by Klaus Schwab Pdf

Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.

The Cambridge Handbook of Stakeholder Theory

Jeffrey S. Harrison,Jay B. Barney,R. Edward Freeman,Robert A. Phillips
The Cambridge Handbook of Stakeholder Theory Book PDF

Author : Jeffrey S. Harrison,Jay B. Barney,R. Edward Freeman,Robert A. Phillips
Publisher : Cambridge University Press
Page : 301 pages
File Size : 49,7 Mb
Release : 2019-05-09
Category : Business & Economics
ISBN : 9781107191464

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The Cambridge Handbook of Stakeholder Theory by Jeffrey S. Harrison,Jay B. Barney,R. Edward Freeman,Robert A. Phillips Pdf

A comprehensive foundation for stakeholder theory, written by many of the most respected and highly cited experts in the field.

Better Business

Christopher Marquis
Better Business Book PDF

Author : Christopher Marquis
Publisher : Yale University Press
Page : 312 pages
File Size : 49,8 Mb
Release : 2020-09-13
Category : Business & Economics
ISBN : 9780300247152

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Better Business by Christopher Marquis Pdf

A compelling look at the B Corp movement and why socially and environmentally responsible companies are vital for everyone’s future Businesses have a big role to play in a capitalist society. They can tip the scales toward the benefit of the few, with toxic side effects for all, or they can guide us toward better, more equitable long-term solutions. Christopher Marquis tells the story of the rise of a new corporate form—the B Corporation. Founded by a group of friends who met at Stanford, these companies undergo a rigorous certification process, overseen by the B Lab, and commit to putting social benefits, the rights of workers, community impact, and environmental stewardship on equal footing with financial shareholders. Informed by over a decade of research and animated by interviews with the movement’s founders and leading figures, Marquis’s book explores the rapid growth of companies choosing to certify as B Corps, both in the United States and internationally, and explains why the future of B Corporations is vital for us all.

Reconstructing the Corporation

Grant M. Hayden,Matthew T. Bodie
Reconstructing the Corporation Book PDF

Author : Grant M. Hayden,Matthew T. Bodie
Publisher : Cambridge University Press
Page : 289 pages
File Size : 55,7 Mb
Release : 2021-03-11
Category : Business & Economics
ISBN : 9781107138322

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Reconstructing the Corporation by Grant M. Hayden,Matthew T. Bodie Pdf

This book critically examines shareholder primacy and develops a new theory of shared corporate governance that includes employees.

Transforming Governance

Maria Aluchna,Güler Aras
Transforming Governance Book PDF

Author : Maria Aluchna,Güler Aras
Publisher : Routledge
Page : 248 pages
File Size : 52,9 Mb
Release : 2016-03-03
Category : Business & Economics
ISBN : 9781317007630

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Transforming Governance by Maria Aluchna,Güler Aras Pdf

Transforming Governance: New Values, New Systems in the New Business Environment, edited by Maria Aluchna and Güler Aras addresses the current state, as well as the development of corporate governance and its perceived tasks and functions, in response to the changing market and regulatory environment. Divided into three parts, the book firstly addresses the variety of theoretical approaches. The inefficiencies, scandals and crises as well as the significant shortcomings and current criticism of shareholder value provide a new setting and theoretical assumptions for the purpose and role of corporate governance in the economy and society. The second section of the book goes on to discuss the forces which lead to the changing corporate governance paradigm, as companies are expected to incorporate not only shareholders but also stakeholders expectations and report and improve upon social and environmental performance. The focus of this section is to present the impact of stakeholders, the requirement for corporate social responsibility and sustainability, as well as the increasing importance of women in management and their participation at corporate board level. Section Three contains corporate governance case studies within various organizational and institutional settings; including the case of family companies, social enterprises/benefit corporations, sustainable companies and emerging markets. The book's contributors comprise both researchers and business experts addressing both theoretical and practical dimensions.

Beyond Shareholder Primacy

Stuart Hart
Beyond Shareholder Primacy Book PDF

Author : Stuart Hart
Publisher : Stanford University Press
Page : 521 pages
File Size : 52,8 Mb
Release : 2024-04-09
Category : Business & Economics
ISBN : 9781503638747

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Beyond Shareholder Primacy by Stuart Hart Pdf

From the author of Capitalism at the Crossroads, a call to consciousness—and action—for individuals, organizations, communities, and nations. Our current Milton Friedman–style "shareholder primacy capitalism," as taught in business schools and embraced around the world, has become dangerous for society, the climate, and the planet. Moreover, Stuart L. Hart argues, it's economically unnecessary. But there are surprising reasons for hope—from the history of capitalism itself. Beyond Shareholder Primacy argues that capitalism has reformed itself twice before and is poised for a third major reformation. Retelling the origin story of capitalism from the fifteenth century to the present, Hart argues that a radically sustainable, just capitalism is possible, and even likely, in our lifetime. Hart describes what it will take to move beyond capitalism's present worship of "shareholder primacy," including reforms to all major economic institutions. A key requirement is eliminating the "externalities" (or collateral damage) of our current shareholder capitalism. Sustainable capitalism will explicitly incorporate the needs of society and the planet, include a financial system that allows leaders to prioritize the planet, reorganize business schools around sustainable management thinking, and enable corporations not just to stop ignoring the damage they cause, but actually begin to create positive impact.

The Enlightened Shareholder Value Principle and Corporate Governance

Andrew Keay
The Enlightened Shareholder Value Principle and Corporate Governance Book PDF

Author : Andrew Keay
Publisher : Routledge
Page : 312 pages
File Size : 40,6 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780415684347

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The Enlightened Shareholder Value Principle and Corporate Governance by Andrew Keay Pdf

The book explains and assesses the nature of enlightened shareholder value principle (ESV) and its contribution to corporate governance. Andrew Keay traces the development of the principle of ESV and examines it in the context of existing principles which have influenced corporate governance. The book analyses the UK legislation that delivers the principle in corporate law and ESV is compared to the constituency statutes that apply in the US in order to determine can whether anything can be learned from the American experience with these statutes. Finally the book considers whether ESV will mean a less short-termist approach by financial institutions and non-financial institutions after the global financial crisis.