Document Type

Book Review

Publication Date

2024

Keywords

Corporate law, corporate purpose, business corporation, concession theory, ESG, corporate social responsibility, shareholder wealth maximization, stakeholder capitalism, state building, legality, custom

Abstract

Why do corporations exist? Generations of legal scholars have debated both the origins of business corporations and their purpose.1 Professor Stephen Bainbridge’s new book The Profit Motive: Defending Shareholder Value Maximization is a substantial contribution to this literature and an essential read for anyone who wishes to better understand a controversy that has an immense impact on how movers and shakers of today’s largest corporations make decisions.

Publication Citation

122 Michigan Law Review 1059 (2024)

Disciplines

Business Organizations Law | Civil Rights and Discrimination | Law

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