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| Author: | Deakin, S. |
| Title: | The coming transformation of shareholder value |
| Journal: | Corporate governance
2005 : JAN, VOL 13:1, p. 11-18 |
| Index terms: | Corporate governance Company ownership Shareholder value Shareholders United Kingdom USA |
| Language: | eng |
| Abstract: | This essay challenges the primacy of shareholder (hereafter as: s-hldr.) value. S-hldr. primacy originates not in company law, but rather in the norms and practices surrounding the rise of the hostile takeover movement in Britain and America in the 1970s and 1980s. It is less strongly institutionalized than might be supposed, because it is essentially a cultural rather than a legal point of reference. Moreover, in the course of the past decade, a shift in the content of s-hldr. value has occurred which reflects the stakeholder critique of that period. |
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