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Vor einem Tag · The foundational ideas of shareholder theory were significantly shaped by the works of economists like Milton Friedman, who famously argued in his 1970 New York Times article that the social responsibility of business is to increase its profits. Friedman’s assertion crystallized the notion that the primary duty of corporate executives is to serve the interests of shareholders.
Vor 5 Tagen · Milton Friedman, Edward Teller and Margaret Thatcher Friedman threw all this away in favour of what Davies calls ‘an attractive lie’: a single, abstract shareholder maximising their value. Rather than a protector, government was recast as a thief, using taxes to spend ‘other people’s money’.
Vor 5 Tagen · Executives were conceptualized as managing the firm's resources and capabilities to maximize the generation and appropriation of value for primary stakeholders, which were assumed to be the corporation's shareholders (Friedman, 1970 Strategy scholars took for granted the legitimacy of the seemingly humble assumption, borrowed from the field of Economics that the willingness of buyers and ...
Vor 6 Stunden · At the meso level, financialization is best captured by the rise of shareholder value or when corporate control is increasingly exercised by financial market actors. The growing role of financial investors-as-owners means that corporate decision-making is increasingly determined by a financial market rationality (Windolf 2005 ).
11. Mai 2024 · His analysis concerned how the companies were managed, what the stockholder relationships were, and how the employees were treated. He argued that improving corporate governance procedures did not damage financial performance; on the contrary, it maximized productivity, ensured corporate efficiency, and led to the sourcing and ...
Vor 2 Tagen · How we got here - you can trace an arc from Milton Friedman’s focus on shareholder supremacy, through a broader set of stakeholder concerns manifested in CSR and more recently ESG, to COVID-19. Corporate communications during the pandemic were humanised and leaders were expected to speak out about a range of issues, notably wellbeing and mental health.
Vor 5 Tagen · The economist Milton Friedman argued that the responsibilty ended with the creation of profit, and it was up to individual shareholders or owners to decide how to spend that profit. His view was that companies should not engage with philanthropic activity. But the trust is that philanthropy like any other economic activity works best when it is done efficiently – a company which brings both ...
