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OverviewA seminal case in corporate law (Dodge v. Ford Motor Co), set the cardinal principle that corporations must serve the interests of shareholders rather than the interests of employees, customers, or the community. This principle, referred to as “shareholder primacy,” has been considered a tenet of the fiduciary duty owed by corporate directors. The shareholder primacy norm has influenced corporate behaviour and encouraged short-term profit-seeking behaviour with significant social ramifications. Corporations have been criticised for undermining the interests of employees, customers, and the community in the name of profit maximisation. Shareholder Primacy as an Untenable Corporate Norm argues that corporate interests and broader social interests, such as benefits to consumers and employees, are not mutually exclusive and can be reconciled by allowing corporate managers and majority shareholders to define corporate interests more broadly, beyond the narrow confines of shareholder primacy. This monograph examines the flaws of shareholder primacy as the principle for corporate governance and discuss an alternative approach (the stakeholder approach). It also discusses the necessity of a statutory adjustment and propose legal reform to clarify the current ambiguity about the legal status of shareholder primacy. Full Product DetailsAuthor: Yong-Shik LeePublisher: now publishers Inc Imprint: now publishers Inc Weight: 0.102kg ISBN: 9781638282884ISBN 10: 1638282889 Pages: 62 Publication Date: 15 November 2023 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: In Print This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of Contents1. Introduction 2. Arbitrary Determination of Corporate Interests 3. The Economic and Social Impact of Shareholder Primacy 4. Reconciling Corporate Interests and Social Interests 5. ConclusionReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |