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| Author: | Jensen, M. C. |
| Title: | Value maximisation, stakeholder theory, and the corporate objective function |
| Journal: | European Financial Management
2001 : SEP, VOL. 7:3, p. 297-317 |
| Index terms: | SOCIAL RESPONSIBILITY CORPORATE RESPONSIBILITY FINANCIAL MANAGEMENT CORPORATE PLANNING VALUE ANALYSIS |
| Language: | eng |
| Abstract: | The role of the corporate objective function in corporate productivity and efficiency, social welfare, and the accountability of managers and directors are examined. Since it is logically impossible to maximise in more than one dimension, purposeful behaviour requires a single valued objective function. |
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