Creating Value for Shareholders as the Single Ultimate Objective of Business Firms - An Ethical Evaluation
15 Pages Posted: 12 Jul 2014
Date Written: 1998
Abstract
This paper develops an ethical evaluation of pursuing the creation of shareholder value as the single ultimate objective of business firms. It rejects that there is a strict ethical duty not to pursue such policy. However, it defends the thesis that a firm that recognizes it has ultimate responsibilities not only towards its shareholders but also towards its staff will tend to create much wider possibilities of personal growth.
Keywords: Shareholder value, Purpose of business firms, Stakeholders
Suggested Citation: Suggested Citation
Elegido, Juan Manuel, Creating Value for Shareholders as the Single Ultimate Objective of Business Firms - An Ethical Evaluation (1998). Available at SSRN: https://ssrn.com/abstract=2464603 or http://dx.doi.org/10.2139/ssrn.2464603
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