The Shareholder Value Myth

European Financial Review, April-May 2013

9 Pages Posted: 11 Jun 2013

See all articles by Lynn A. Stout

Lynn A. Stout

Cornell Law School - Jack G. Clarke Business Law Institute (deceased)

Date Written: April 1, 2013


Shareholder primacy theory is suffering a crisis of confidence. In The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public, Lynn Stout discusses how the traditional managerial focus on the shareholder’s interest can be harmful for the corporation and even for shareholders themselves and how it is more valuable to spread the focus over several objectives.

Keywords: Shareholder, confidence, value, corporation

Suggested Citation

Stout, Lynn A., The Shareholder Value Myth (April 1, 2013). European Financial Review, April-May 2013, Available at SSRN:

Lynn A. Stout (Contact Author)

Cornell Law School - Jack G. Clarke Business Law Institute (deceased)

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