Profit Motive - Defending Shareholder Value Maximization

"Corporations dominate our economy and society. Defining their social purpose thus matters a great deal to everyone, not just lawyers and businesspeople. In clear and accessible language, Bainbridge explains that shareholder capitalism-not stakeholder capitalism-is both what the law requires and what the law ought to require"--

List of contents

Introduction; Part I. The Law: 1. The Battle of River Rouge; 2. Fireplug Funding For Princeton; 3. Why Didn't the Cubs Have to Play Night Baseball? 4. Defending Dodge; 5. To Make Stakeholder Capitalism the Rule, You Would Have to Change Most of Corporate Law; 6. What About the Benefit Corporation? Part II. The Merits: 7. Possible Merits of the Business Roundtable's Embrace of Stakeholder Capitalism; 8. Was There a Business Case for the Business Roundtable's Embrace of Stakeholder Capitalism? 9. Why did the Business Roundtable CEOs Shift Their Position?10. Why the Business Roundtable CEOs Should Have Stayed the Course; Conclusion.

About the author

Stephen M. Bainbridge is the William D. Warren Distinguished Professor of Law at UCLA School of Law.

Summary

The Profit Motive addresses questions of corporate purpose using historical, legal, and economic perspectives. It counters proponents of social corporate responsibility and defends the maximization of shareholder value and shareholder capitalism, as both what the law requires and what it ought to require.

Product details

• Authors: Stephen M. Bainbridge, Stephen M. (University of California Bainbridge, Bainbridge Stephen M.
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 28.02.2023
• EAN: 9781316515471
• ISBN: 978-1-316-51547-1
• No. of pages: 300
• Subjects: Social sciences, law, business > Business > General, dictionaries; BUSINESS & ECONOMICS / Corporate Governance, BUSINESS & ECONOMICS / Business Ethics, Corporate Governance, LAW / Commercial / General, Commercial law, Business ethics & social responsibility, Business ethics and social responsibility