The Corporate Objective Revisited

@article{Sundaram2004TheCO,
  title={The Corporate Objective Revisited},
  author={Anant K. Sundaram and Andrew C. Inkpen},
  journal={Organization Science},
  year={2004},
  volume={15},
  pages={350-363}
}
The stock market convulsions and corporate scandals of 2001 and 2002 have reignited debate on the purposes of the corporation and, in particular, the goal of shareholder value maximization. We revisit the debate, re-examine the traditional rationales, and develop a set of new arguments for why the preferred objective function for the corporation must unambiguously continue to be the one that says “maximize shareholder value.” We trace the origins of the debates from the late nineteenth century… CONTINUE READING
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