The End of Shareholder Value: Corporations at the Crossroad

Kennedy argues that the corporate boardroom’s preoccupation with shareholder value has led companies to mortgage their futures for today’s higher stock price. It also created a class of entrepreneurs who, for a brief time, were able to sell companies to a gullible investing public at unsupportable prices. The author offers a host of boardroom reforms, with an eye on making this body more responsive to multiple stakeholder interests.

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1 Comment

  1. Kennedy is a bit of a Cassandra in places. He’s very skeptical of even the small nuggets of promising Internet trends and statistics he himself quotes. Nevertheless, the book is provocative and timely. Perhaps the most important point is its resuscitation of the old discussion about the wider, social purpose of business–a debate that’s been forgotten in the flush of the “new economy.” –Alan J. White

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