I asked Prof. Bainbridge whether I could cross-post this from Corporate Finance Lab, and he kindly agreed: What is the purpose of a corporation? Is it, as Nobel Economics laureate Milton Friedman ...

Milton Friedman’s admonition 50 years ago that the modern corporation should maximize shareholder value remains controversial. We argue that under certain broad assumptions, the admonition remains a ...

In his forthcoming article, “Shareholder Wealth Maximization: A Schelling Point,” my MC-Law colleague, Professor Martin Edwards, offers a new contribution to the long-standing debate concerning ...

Stakeholders include anyone who has an interest in how well your business performs. This includes employees, customers, shareholders, trade unions, management, customers, communities and vendors. Each ...

Thomas Clarke does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

WEST LAFAYETTE, Ind. — Privately owned businesses are more efficient and profitable than governments. So goes the prevailing thought among financiers in the United States and many other countries.