Reconstructing the corporation from shareholder primacy to shared governance
Modern corporations contribute to a wide range of contemporary problems, including income inequality, global warming, and the influence of money in politics. Their relentless pursuit of profits, though, is the natural outcome of the doctrine of shareholder primacy. As the consensus around this doctr...
| Main Authors: | , |
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| Format: | eBook |
| Language: | English |
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Cambridge, United Kingdom ; New York, NY, USA
Cambridge University Press
2020
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| Subjects: | |
| Online Access: | |
| Collection: | Cambridge Books Online - Collection details see MPG.ReNa |
| Summary: | Modern corporations contribute to a wide range of contemporary problems, including income inequality, global warming, and the influence of money in politics. Their relentless pursuit of profits, though, is the natural outcome of the doctrine of shareholder primacy. As the consensus around this doctrine crumbles, it has become increasingly clear that the prerogatives of corporate governance have been improperly limited to shareholders. It is time to examine shareholder primacy and its attendant governance features anew, and reorient the literature around the basic purpose of corporations. This book critically examines the current state of corporate governance law and provides decisive rebuttals to longstanding arguments for the exclusive shareholder franchise. Reconstructing the Corporation presents a new model of corporate governance - one that builds on the theory of the firm as well as a novel theory of democratic participation - to support the extension of the corporate franchise to employees |
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| Physical Description: | xiii, 274 pages digital |
| ISBN: | 9781316481325 |