Corporate Purpose Redefined: Balancing Shareholder Wealth and Stakeholder Interests
The article discusses different views on the purpose of corporations, focusing on how they can best serve society. It suggests that simply relying on private law and corporate governance may not be enough to ensure corporations act ethically. The author argues that a balanced approach, considering both shareholder wealth and stakeholder interests, is crucial for sustainable growth. This means that companies should aim to benefit both shareholders and other stakeholders, like employees and the environment, to maximize long-term value.