search query: @author Lazonick, W. / total: 4
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| Author: | Lazonick, W. O'Sullivan, M. |
| Title: | Maximizing shareholder value: a new ideology for corporate governance |
| Journal: | Economy and Society
2000 : FEB, VOL. 29:1, p. 13-35 |
| Index terms: | ECONOMIC CONDITIONS SHAREHOLDER VALUE USA |
| Language: | eng |
| Abstract: | The decade-long boom in the US stock market and the more recent boom in the US economy have fostered widespread belief in the economic benefits of the maximization of shareholder value as a principle of corporate governance. In this paper, the authors provide a historical analysis of the rise of shareholder value as a principle of corporate governance in the United States, tracing the transformation of US corporate strategy from an orientation towards retention of corporate earnings and reinvestment in corporate growth through the 1970s to one of downsizing of corporate labour forces and distribution of corporate earnings to shareholders over the past two decades. |
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