What is the appropriate objective function for a firm? We analyze this question for the case where shareholders are prosocial and externalities are not perfectly separable from production decisions.

By 1994, when Louis V. Gerstner Jr. headed the company, he orchestrated an epic turnaround, putting shareholder value and customer satisfaction at the top of the list. Employees and community were ...

But he further argues that shareholders are concerned about more than just making money, and that companies should focus on maximizing shareholder welfare, not shareholder value. What looks like ...

He talks about a research paper he authored, which makes the point that profit maximization is important to shareholders, but it’s not the only thing they care about. Put simply: shareholder ...

In this interview, Hart discusses his most recent paper "Companies Should Maximize Shareholder Welfare Not Market Value." He says that profit maximization is important to shareholders, but it's ...

The latest announcement is out from Raiden Resources Limited ( ($AU:RDN) ). Raiden Resources Limited has announced a strategic update aimed at ...

A new report has uncovered how investors can most effectively foster shareholder engagement on environmental, societal and governance (ESG) issues to overcome differences in structural and cultural ...