Good Company: Economic Policy after Shareholder Primacy

Synopsis

On the faulty intellectual origins of shareholder primacy—and how policy can win back what’s been lost. In an era of shareholder primacy, share price is king. Businesses operate with short-term goals to deliver profits to shareholders, enjoying stability (and bonuses) in the process. While the public bemoans the doctrine for its insularity and wealth-consolidating effects, its influence over corporate governance persists. Good Company offers an exacting argument for why shareholder primacy was never the right model to follow for truly understanding how corporations operate. Lenore Palladino shows that corporations draw power from public charters—agreements that allow corporations to enjoy all manner of operational benefits. In return, companies are meant to innovate for the betterment of the societies that support them. However, that debt—increasingly wielded for stock buybacks and shareholder bonuses—is not being repaid. Palladino theorizes a modern corporation that plays its intended role while delivering social and economic good in the process and offers tangible policy solutions to make this a reality. Good Company is both an expert introduction to the political economy of the firm—as it was, as it is, as it can be—and a calibrating examination of how public policy can shape companies, and societies, for the better.

Copyright:

2024

Book Details

Book Quality:

Publisher Quality

ISBN-13:

9780226836508

Related ISBNs:

9780226836485

Publisher:

University of Chicago Press

Date of Addition:

11/28/24

Copyrighted By:

The University of Chicago

Adult content:

No

Language:

English

Has Image Descriptions:

No

Categories:

Nonfiction, Business and Finance, Law, Legal Issues and Ethics, Politics and Government

Submitted By:

Bookshare Staff

Usage Restrictions:

This is a copyrighted book.