The popular conception that corporations exist principally for the purpose of maximising shareholder value has become so enmeshed with the narrative of business that the issue is rarely given serious consideration. This popular conception is problematic because it is based on a model of the corporation which bears very little relationship to the reality of 21st century corporate activity and because it is implicated in a range of unintended consequences including an inappropriate focus on the short-term, potentially (and paradoxically) sub-optimal returns to shareholders, excessive executive pay and a range of negative social and environmental externalities. There is also significant evidence that it is fundamentally inconsistent with sustainability.
Conference hosted by Mr Richard Howitt MEP at the European Parliament (Brussels) and organised by The Environmental Law Service/Frank Boldi in conjunction with the Modern Corporation Project, Cardiff Business School.
Capture: Dorian Blacks and Newton Pham Dang
Photos: Newton Pham Dang