| |
The current financial crisis has deep macroeconomic
roots, but the dominant view of the firm has made
the crisis deeper and more devastating. Over the
past few decades, maximizing shareholder value has
become the main objective of the firm. Chief
executives have been keen on this objective
because their economic incentives have been clearly
associated with stock market performance.
Unfortunately, this has driven many CEOs to make
terrible decisions based on short-termism and greed.
In this way, the firm has become the object of anger,
criticism and cynicism. In Building Respected
Companies, Jordi Canals argues that we must
address this problem by developing companies that
serve society, not just their shareholders. This
requires a new perspective of what a firm is, what
the purpose of the firm in society should be and what
the role of the board of directors and senior
executives should be.isbn-9781107621015
|
| |
Pages : 282
|