Creating Value for Shareholders as the Single Ultimate Objective of Business Firms - An Ethical Evaluation

15 Pages Posted: 12 Jul 2014

Date Written: 1998

Abstract

This paper develops an ethical evaluation of pursuing the creation of shareholder value as the single ultimate objective of business firms. It rejects that there is a strict ethical duty not to pursue such policy. However, it defends the thesis that a firm that recognizes it has ultimate responsibilities not only towards its shareholders but also towards its staff will tend to create much wider possibilities of personal growth.

Keywords: Shareholder value, Purpose of business firms, Stakeholders

Suggested Citation

Elegido, Juan Manuel, Creating Value for Shareholders as the Single Ultimate Objective of Business Firms - An Ethical Evaluation (1998). Available at SSRN: https://ssrn.com/abstract=2464603 or http://dx.doi.org/10.2139/ssrn.2464603

Juan Manuel Elegido (Contact Author)

Pan-Atlantic University ( email )

Km. 52 Lekki-Epe Expressway
Lagos
Nigeria

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