Ethical aspects of shareholder value objective

Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie

Anna Rzepka¹ 

[1] Cracow University of Economics, Faculty of Management, Poland;

关键词: business ethics;    shareholder value;    shareholder value theory;    shareholder value maximization;   

DOI  :  10.25944/znmwse.2018.04.2535

来源: DOAJ

【 摘 要 】

Over the past decades, the ideology of shareholder value, which implies that the sole legitimate purpose of the corporation is to maximize shareholder profits, has unquestionably been a dominant principle for corporate governance. Today, there is a significant question-mark over whether shareholder primacy theory provides the proper framework for running companies. The global financial crisis has renewed the fierce discussion about which concept the management of a modern public corporation should primarily follow. At the same time, ethical and sustainability-related issues have received a considerable amount of attention in the strategic management literature. The main objective addressed in this paper is to contribute to the shareholder and stakeholder theory discussion with a closer look taken at some ethical aspects of the adoption of shareholder-value oriented model. The article aims to emphasize that corporations should look beyond the pursuit of shareholder wealth and adopt more modern, socially and ethically conscious business model.

【 授权许可】

Unknown