David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 27 (1-2):137 - 148 (2000)
Shareholder value orientation has been introduced as a means to improve the performance of the corporation. The paper investigates the theoretical justification for the claim that increasing shareholder value is the purpose of corporate governance. It demonstrates that shareholder value is the control principle, not the purpose of the firm. The idea that shareholder value is the only goal of the corporation is a mistaken transfer from the financial to the industrial firm. The paper also questions that the merger of manager interests and owner interests introduced by the remuneration of managers by stock options improves the management performance. The self-apportioning of stock options by the management is in danger of becoming a form of insider trading.
|Keywords||corporate governance holding structure shareholder value stock options|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
Alejo José G. Sison & Joan Fontrodona (2011). The Common Good of Business: Addressing a Challenge Posed by «Caritas in Veritate». [REVIEW] Journal of Business Ethics 100 (S1):99-107.
Chris Mason & John Simmons (2014). Embedding Corporate Social Responsibility in Corporate Governance: A Stakeholder Systems Approach. Journal of Business Ethics 119 (1):77-86.
Similar books and articles
Lorne N. Switzer & Catherine Kelly (2006). Corporate Governance Mechanisms and the Performance of Small-Cap Firms in Canada. International Journal of Business Governance and Ethics 2 (s 3-4):294-328.
Clive Smallman (2004). Exploring Theoretical Paradigms in Corporate Governance. International Journal of Business Governance and Ethics 1 (1):78-94.
Gordon G. Sollars (2001). An Appraisal of Shareholder Proportional Liability. Journal of Business Ethics 32 (4):329 - 345.
Olufemi Amao & Kenneth Amaeshi (2008). Galvanising Shareholder Activism: A Prerequisite for Effective Corporate Governance and Accountability in Nigeria. [REVIEW] Journal of Business Ethics 82 (1):119 - 130.
Michael Devaney (2007). MBA Education, Business Ethics and the Case for Shareholder Value. Journal of Academic Ethics 5 (2-4):199-205.
Richard Lee Miller (1988). Ethical Challenges in Corporate-Shareholder and Investor Relations: Using the Value Exchange Model to Analyze and Respond. [REVIEW] Journal of Business Ethics 7 (1-2):117 - 132.
Emmanuel Adegbite, Kenneth Amaeshi & Olufemi Amao (2012). The Politics of Shareholder Activism in Nigeria. Journal of Business Ethics 105 (3):389-402.
Wajeeh Elali (2006). Contemporaneous Relationship Between Eva and Shareholder Value. International Journal of Business Governance and Ethics 2 (s 3-4):237-253.
Dendi Ramdani & Arjen Witteloostuijn (2012). The Shareholder—Manager Relationship and Its Impact on the Likelihood of Firm Bribery. Journal of Business Ethics 108 (4):495 - 507.
Added to index2009-01-28
Total downloads30 ( #80,501 of 1,696,295 )
Recent downloads (6 months)2 ( #239,061 of 1,696,295 )
How can I increase my downloads?