On Monday, the Business Roundtable announced that nearly 200 of its leaders had signed onto a statement that appears to reverse 30 years of evolution in corporate governance. No longer is the purpose of corporations “principally to serve their shareholders,” as the BRT has held since 1997. Now the purpose is to serve both investors … Continue reading Shareholder Value Uber Alles
Tag: theory of the firm
A Man of Words, A Man of Deeds
Two events Wednesday raised some interesting questions about the nature of corporations and the public good: the passing of Jack Bogle, founder of Vanguard Group, and release of the annual letter to CEOs from BlackRock co-founder and chief executive Laurence Fink. Vanguard is the investor-owned, ultra-low-fee asset manager that currently holds roughly $4 trillion for … Continue reading A Man of Words, A Man of Deeds
