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Shareholder value becomes law

In: Beyond Shareholder Value

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Abstract

The chapter traces the recognition of shareholder value in Delaware and Canada, as the corporate goal in law. The development has serious implications. It pays scant attention to the corporate enterprise and relegates non-shareholder interests to relative irrelevance. Pointing out the cursory manner in which judicial recognition of shareholder value occurred, the chapter explains the problems with the common law method of legal development in dealing with complex issues such as the normative character of business corporations and their purpose.

Suggested Citation

  • ., 2021. "Shareholder value becomes law," Chapters, in: Beyond Shareholder Value, chapter 4, pages 104-133, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20195_4
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