Corporate Governance: 'Shareholder Primacy'

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Hello Friends,

I am wondering if anyone has more information about the legal history and basis for the idea of 'Shareholder Primacy' in corporate governance. As I understand it, this is basically the idea that corporations are beholden to the enrichment of their shareholders as a primary directive.

I believe there was a Supreme Court decision in the early part of the twentieth century (or thereabouts) that established that corporations need to operate for the enrichment of shareholders, however, I can't find a related case. The bottom line is that I'm interested in the legal constraints that make corporations beholden to increasing their shareholder's value.

Any information available is much appreciated. Thanks.

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necessary_illusions
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The biggest mass extinction in the history of the world was caused by carbon dioxide. That’s the conclusion of a shocking new study published last week in Science Magazine.

According to that study - the Permian Mass Extinction - which occurred 252 million years ago - started when a group of volcanoes erupted in Siberia - sending tons upon tons of CO2 into the atmosphere.

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