The Rise of Enlightened Shareholder Primacy and Its Impact on the US Corporate Self-Regulation

International Company and Commercial Law Review, Vol. 12, pp. 409-417, 2014

15 Pages Posted: 6 Aug 2015

See all articles by Mia Rahim

Mia Rahim

School of Law, University of New England

Date Written: 2014

Abstract

The doctrine of Enlightened Shareholder Primacy (ESP) rejects the profit maximization focus in corporate governance. Its emergence helps company management to relate moral arguments associated with justice, fairness, and communitarianism with corporate self-regulation to reach an optimal welfare level. This article explicates the emergence of ESP and how it has contributed to the devolution into US corporate governance to create internal strategies focusing on pluralization of actors, ethics and accountability.

Keywords: Corporate governance, new governance, shareholder primacy, enlightened shareholder primacy, corporate social responsibility

Suggested Citation

Rahim, Mia, The Rise of Enlightened Shareholder Primacy and Its Impact on the US Corporate Self-Regulation (2014). International Company and Commercial Law Review, Vol. 12, pp. 409-417, 2014, Available at SSRN: https://ssrn.com/abstract=2639919

Mia Rahim (Contact Author)

School of Law, University of New England ( email )

School of Law
University of New England
Armidale, 2351
Australia

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