The only valid purpose of a firm is to create a customer He proposes a new definition of ethical behaviour in business that is less tied to highly personal values Lynn stout's book, the shareholder value myth, is a comprehensive critique of the idea that corporations should prioritize shareholder value above all else
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The book is divided into two parts
Debunking the shareholder value myth and exploring what shareholders really value.
Others care only about their own material returns A second important reason for the focus on shareholder value is executive compensation Large institutional investors are increasingly influencing corporate policies In his final shareholder letter, jeff bezos explains a profoundly simple lesson most leaders overlook bezos explains why your goal should be to ‘create value,’ and how to do exactly that.
While economists typically justify maximising shareholder value on the basis of economic efficiency arguments, vermaelen wants to give an ethical twist to this
