The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public

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Challenging the prevalent belief that corporations must prioritize shareholder value, Lynn Stout reveals that there is no legal mandate for this practice. She argues that the focus on short-term earnings undermines long-term performance and innovation, ultimately harming employees, customers, and communities. Stout presents empirical evidence showing that companies prioritizing shareholder value do not outperform others. Instead, she advocates for new models that cater to the diverse interests of real investors and benefit both corporations and society.