The Shareholder Value Myth: Why Chasing Share Price Hurts Shareholders, Friends, and Everybody Else
About the Webinar
Conventional wisdom says that corporate managers’ duty is to maximize “shareholder value.” In this talk, Professor Lynn Stout will explain why conventional wisdom is wrong. There is no legal requirement that corporations maximize shareholder wealth. What’s more, corporations that try to do this usually end up doing more poorly for shareholders as well as employees, customers, and society.
Professor Lynn A. Stout is the Distinguished Professor of Corporate and Business Law of the Clarke Law Institute at Cornell Law School. Stout is an internationally recognized expert in the fields of corporate governance, financial derivatives, law and economics, and moral behavior. She has published numerous articles and books on these topics and lectures widely. She has also taught at Harvard, NYU, Georgetown, UCLA, and George Washington University. She holds a B.A. summa cum laude and a Masters in Public Affairs from Princeton University and a J.D. from the Yale Law School.