The Shareholder Value Myth
Lynn Stout discusses how the traditional managerial focus on the shareholder’s interest can be harmful for the corporation and even for shareholders themselves and how it is more valuable to spread the focus over several objectives. Professor Stout was an internationally recognized expert in the fields of corporate governance, securities regulation, financial derivatives, law and economics, and moral behavior. She was the author of numerous articles and books on these topics and lectures widely. Her most recent book was The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations and the Public (Berrerr Koehler 2012), which was named 2012 Governance Book of the Year.