type here...

shareholder value

Managers Should Satisfy Only the Ethically Permissible Preferences of Shareholders

Oliver Hart and Luigi Zingales have proposed a revision to the dominant model of the objective of the firm, most famously defended...
Read more

How a Wave of Corporate Takeovers Ushered In the Gospel of Shareholder Value

In an excerpt from his new book, Ages of American Capitalism, economic historian Jonathan Levy explains how "financiers blew up the postwar...
Read more

Public’s Perception of Large Corporations Has Direct Impact on the Public Support of Corporate Bailouts

A new Stigler Center working paper finds that the likelihood of someone signing an online petition or contacting their US senators to...
Read more

Friedman’s Legacy: From Doctrine to Theorem

Friedman was more right than his detractors claim and more wrong than his supporters would like us to believe. However, after 50...
Read more

Bringing Ethics Back to Friedman’s Call to Purpose for the Next 50 Years

Fifty years ago, Friedman compellingly presented his argument for shareholder primacy. But as currently implemented, shareholder primacy threatens the unifying purposes that...
Read more

Milton Friedman and the Need for Justice

Milton Friedman predicated his shareholder value maximization credo on the strong implicit and explicit assumptions that the rules of society protect stakeholders...
Read more

Shareholder Value and Social Responsibility Are Not At Odds

Being socially responsible can, and frequently does, make good business sense. There are plenty of opportunities for companies to do well by...
Read more

A Challenge for Stakeholder Capitalism: Solving the Paradoxes of Voting

If corporations are to maximize shareholder welfare, managers need to discover what shareholders value; political theory shows how difficult this can be.
Read more

Corporations Are Governance Mechanisms, Not Shareholder Toys

Milton Friedman’s shareholder credo is simple and catchy but has shaky foundations. Corporate directors and officers are not agents of shareholders and...
Read more

Beyond Friedman’s Doctrine: The True Purpose of the Business Corporation

The pandemic and the renewed focus on inequality and injustice arising in the wake of the death of George Floyd have accelerated...
Read more
123Page 1 of 3

LATEST NEWS

Antitrust and Competition

New Study Warns Antitrust Inaction May Lead To Acceptable Collusion for Public Policy Considerations

Or Brook
The modernization of EU antitrust laws muddied the water with regard to the ways that antitrust authorities and courts should handle situations...
Read more
Antitrust and Competition

Dark Money Dominates Spending by Special Interest Groups and Sways Elections

Matthew Denes, Madeline Marco Scanlon, Florian Schulz
New research on undisclosed and unlimited political contributions, or dark money, exposes the increasing role that such funds play in U.S. elections.
Read more
Antitrust and Competition

The “Conspiracy” of Consumer Welfare Theory

Darren Bush, Mark Glick
Matt Stoller argues there was a conspiracy. It was more of an association with a singular purpose.
Read more
Antitrust and Competition

Researchers Find Reduced Competition After Pandemic

Brooke Fox
The chart of the week comes from a new research paper that documents the increase in small business closures during the Covid...
Read more
News

Voters Still Believe Politics is About the Common Good, Not Just Rent-Seeking

Chad Kendall, John G. Matsusaka
Do voters still believe that politics can be a source for common-good policies and not just partisan bickering and rent-seeking? With political...
Read more

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.

About Us

Categories

What we are readingAntitrust and CompetitionNewsRegulatory CaptureMediaRent seeking