Does Shareholder Value Require A Revival Of Corporate Culture
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Does Shareholder Value Require A Revival Of Corporate Culture
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Author : Michael Frei
language : en
Publisher: GRIN Verlag
Release Date : 2013-07-31
Does Shareholder Value Require A Revival Of Corporate Culture written by Michael Frei and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-31 with Business & Economics categories.
Bachelor Thesis from the year 2012 in the subject Business economics - Business Ethics, Corporate Ethics, grade: 5 von 5, Free University of Bozen-Bolzano (School of Economics and Management), language: English, abstract: In recent years the problems created by shareholder value as a principle of corporate governance became topic of broad discussions. This thesis tries to answer the question if corporate culture could be able to prevent the problems and risks that emerge by shareholder value. In a first step the concepts of shareholder value and corporate culture are analyzed and defined in detail. For the purpose of this thesis the phenomenon of value is explained as sustainable long-term profit for investors. Secondly, the problems of shareholder value as a principle of corporate governance is examined and it is shown that the main issue in this context is the lack of mutual trust between interest groups within corporations and the moral dilemma resulting from this. Thereafter by comparing corporate culture in different countries it is demonstrated that the German approach in corporate culture is the most convenient in order to create mutual trust. Nevertheless the results of this thesis yield that corporate culture has to be developed over time and cannot be introduced a priori by imposing a new corporate identity. In order to create a strong corporate culture which could solve the moral dilemma an environment of mutual trust between employees, executive officers and shareholders has to be established.
The End Of Shareholder Value
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Author : Allan A. Kennedy
language : en
Publisher: Hachette UK
Release Date : 2008-01-04
The End Of Shareholder Value written by Allan A. Kennedy and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-04 with Business & Economics categories.
In The End of Shareholder Value , Allan Kennedy shines the spotlight on a new revolution in business-as customers, employees, political and social leaders, and governing boards begin to challenge the cozy relationship between executives and investors that has crippled companies in the name of maximizing shareholder value. Analyzing both historical and current material, he explores the colorful history of corporations since the turn of the century, evolving from engines of innovation to machines driven by short-term financial gains. From GE to the hottest new Web-based start-up, those companies that subscribe to the shareholder value ethic cannot be sustained and will, inevitably, be replaced by those who figure out how to create and share wealth with all their important constituencies. Provocative and wide-ranging, The End of Shareholder Value showcases progressive experiments in the public and private sectors, outlines new roles and responsibilities for all participants, and challenges everyone to rethink the purpose of business in the new millennium.
The End Of Shareholder Value
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Author : Allan A. Kennedy
language : en
Publisher: Texere Publishing
Release Date : 2000
The End Of Shareholder Value written by Allan A. Kennedy and has been published by Texere Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Corporate culture categories.
This timely book examines the real effects of the shareholder value ethic and the crisis that has been allowed to develop. Moreover, it examines possible ways for companies and their executives to prevent it taking full shape, through an understanding of occurring trends and a shift away from the short-termism of shareholder value thinking.
Beliefs Behaviors And Results
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Author : Scott Gillis
language : en
Publisher: Greenleaf Book Group
Release Date : 2013-03-26
Beliefs Behaviors And Results written by Scott Gillis and has been published by Greenleaf Book Group this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-26 with Business & Economics categories.
For any CEO who wants to achieve and sustain superior shareholder value growth. All chief executives want to deliver superior returns for their shareholders, however only a few have been able to do so on a sustainable basis. Beliefs, Behaviors, and Results profiles how the best Fortune 200 CEOs have been able to outperform their peers and sustain superior shareholder returns by institutionalizing a set of beliefs and behaviors in their organizations. Through the words and case examples of these leading chief executives, the authors capture the five core principles that have transformed the performance of some of the world’s best corporations. Readers will learn how the CEOs of these companies united their organizations around a common definition of winning, how they helped their managers capture a greater share of market profits, and how they established a culture where all managers think and act like entrepreneurial owners. Readers will learn how the best executives: • Look at markets differently to identify new profitable growth opportunities • Develop strategic innovations that are at least as valuable as new product innovations in driving shareholder value growth • Establish a reinvestment advantage that is difficult for competitors to match • Sustain superior performance over time In addition, the reader will learn the: • Common mistakes that prevent most management teams from maximizing profitable growth and shareholder value • Specific actions that all senior managers can take to materially change sustainable performance of their corporation
The Corporate Objective
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Author : Andrew R. Keay
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01
The Corporate Objective written by Andrew R. Keay and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.
'This is legal scholarship of the finest kind, concerned with an issue of supreme political, economic and social importance. Professor Keay takes the debate on the object of the modern public corporation by the scruff of its neck and skilfully navigates between the Scylla and Charybdis of the shareholder/stakeholder debate. This book, characterised by admirable analytical clarity and a huge amount of research, faithfully summarises the debate hitherto, and propels us to the next stage with a powerful argument, which challenges, effectively, both the stakeholder and shareholder theories.' – Harry Rajak, University of Sussex School of Law, UK The Corporate Objective addresses a question that has been subject to much debate: what should be the objective of public corporations? It examines the two dominant theories that address this issue, the shareholder primacy and stakeholder theories, and finds that both have serious shortcomings. The book goes on to develop a new theory, called the Entity Maximisation and Sustainability Model. Under this model, directors are to endeavour to increase the overall long-run market value of the corporation as an entity. At the same time as maximising wealth, directors have to ensure that the corporation survives and is able to stay afloat and pursue the development of the corporation's position. Andrew Keay seeks to explain and justify the model and discusses how the model is enforced, how investors fit into the model, how directors are to act and how profits are to be allocated. Analysing in depth the existing theories which seek to explain the corporate objective, this book will appeal to academics in corporate law and corporate governance as well as law, finance, business ethics, organisational behaviour, management, economics, accounting and sociology. Postgraduate students in corporate law and corporate governance, directors, and government regulators will also find much to interest them in this study.
The Shareholder Value Myth
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Author : Lynn Stout
language : en
Publisher: ReadHowYouWant
Release Date : 2012-05
The Shareholder Value Myth written by Lynn Stout and has been published by ReadHowYouWant this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05 with Business & Economics categories.
Proves that shareholder primacy has no basis in law or economics and does not deliver better bottom - line results. Suggests better ways to think about shareholders and their relationship to corporations Written by one of America's most distinguished legal scholars, Executives, investors, and the business press routinely chant the mantra that co...
Thorstein Veblen And The Revival Of Free Market Capitalism
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Author : Janet T. Knoedler
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01
Thorstein Veblen And The Revival Of Free Market Capitalism written by Janet T. Knoedler and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Business & Economics categories.
The volume offers many interesting hints on which the reader may have cause to reflect. Tiziana Foresti, History of Economic Ideas With the restoration of laissez faire as the governing principle of contemporary economic ideology and policy making, Thorstein Veblen s insights are once again timely. This book revisits his legacy, featuring original essays by renowned Veblen scholars. The contributors review and comment upon the subjects that concerned Veblen such as: the legal system, finance and capital, the operation of markets, neoclassical economics, private property, cultural and economic change, the place of science, and higher education. They consider how his evolutionary theory of the economy and society can continue to inform our understanding of our modern world. As an astute and highly capable observer, Veblen shed light on our present system through a re-examination of a similar system. Students and scholars of economics will find this provocative book of great interest. It will also be a refreshing discussion for those frustrated by the gap between the rosy scenarios of conventional economics and the problems of inequality, conspicuous consumption, concentrated economic power and unresponsive government.
A Corporate Culture Channel
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Author : Jillian Grennan
language : en
Publisher:
Release Date : 2019
A Corporate Culture Channel written by Jillian Grennan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
I show corporate culture is an important channel through which governance affects firm value. By quantifying culture and using a regression discontinuity design for identification, I demonstrate stronger governance significantly changes culture: it increases results-orientation but decreases customer-focus, integrity, and collaboration. Shareholders initially realize financial gains from stronger governance: increases in sales, profitability, and payout occur. Over time, however, intangible assets associated with culture deteriorate, offsetting the gains. These findings support multitasking theory where stronger governance incentivizes focus on easy-to-observe benchmarks over harder-to-measure intangibles. The governance-induced changes in culture are not in shareholders' long-term interests since firm value declines by 1.4% through this channel.
Why The Bottom Line Isn T
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Author : Dave Ulrich
language : en
Publisher: Wiley
Release Date : 2003-04-09
Why The Bottom Line Isn T written by Dave Ulrich and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-04-09 with Business & Economics categories.
Offers a broad view of leadership and shareholder value based on multiple business disciplines In Why the Bottom Line Isn't! authors Dave Ulrich and Norm Smallwood argue that sustainable shareholder value comes increasingly from assets not accounted for on an organization's balance sheet. These assets include a company's reputation, its ability to attract talent, and its ability to react quickly to new opportunities in the marketplace. Why the Bottom Line Isn't! harnesses research from a number of disciplines including human resources, finance, and leadership to establish a hierarchy of such intangibles. The authors extrapolate from these intangibles to establish leadership tools that will help create sustainable shareholder value. The book offers a broad, expansive perspective on leadership while eschewing convoluted theory for concrete practice. Dave Ulrich, Ph.D., ([email protected]) has been listed by BusinessWeek as the top "guru" in management education. He has co-authored 10 books and over 100 articles, serves on the Board of Directors of Herman Miller, and has consulted with over half of the Fortune 200 companies. He is currently on professional leave as Professor at the University of Michigan to serve as Mission President for the Church of Jesus Christ of Latter-day Saints in Montreal. Norm Smallwood ([email protected]) is co-founder of Results-Based Leadership (www.rbl.net), which provides education and consulting services based on this book as well as the ideas in Results-Based Leadership: How Leaders Build the Business and Improve the Bottom Line, which he co-authored with Ulrich. He has led leadership development, business strategy, organization capability, change management, and HR projects for a wide variety of clients spanning multiple industries.
The Shareholder Value Myth
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Author : Lynn Stout
language : en
Publisher:
Release Date : 2012-05-07
The Shareholder Value Myth written by Lynn Stout and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-07 with Business & Economics categories.
Proves that shareholder primacy has no basis in law or economics and does not deliver better bottom - line results. Suggests better ways to think about shareholders and their relationship to corporations Written by one of America's most distinguished legal scholars, Executives, investors, and the business press routinely chant the mantra that corporations are required to ''maximize shareholder value.'' The results have been disastrous. ''Shareholder primacy'' thinking causes corporate managers to focus myopically on short - term earnings reports at the expense of long - term performance; discourages investment and innovation; harms employees, customers, and communities; and causes companies to indulge in reckless, sociopathic, and socially irresponsible behaviors. It's the kind of thinking that led directly to the recent worldwide economic collapse. Jack Welch, once a shareholder primacy true believer, has famously called it ''the dumbest idea in the world.'' Lynn Stout proves that there is in fact no legal obligation for corporations to maximize shareholder value - scholars, lawyers, and corporate officers just assumed there was. Nor, she demonstrates, is maximizing shareholder value the optimal economic model - that's just another unproven assumption, one that is conceptually muddled and, Stout shows, unsupported by the actual evidence on what drives good corporate performance. As if this wasn't enough, Stout also shows how shareholder primacy actually hurts individual investors by obscuring their real, diverse, human interests in the name of serving a hypothetical, homogeneous, abstract, and conscienceless shareholder. Stout looks at new theories that better serve the needs not only of actual human beings who invest but of corporations and society as well. ''Calm, careful, plainspoken, and relentless argumentation that peels away the distracting layers of abstract mumbo jumbo to expose the lunacy of the underlying theory for all to see. Lynn Stout does the world a great favor in exposing shareholder value theory for what it is: flawed and damaging.'' - Roger Martin, Dean, Rotman School of Management, University of Toronto, and author of Fixing the Game.