Myths about Shareholder Value

The concept of unitary “shareholder value” and its reflection in near-term stock prices formed the centerpiece of contemporary corporate governance up to the 2008 financial crisis. The crisis has elicited both more critical and clearer, book-length accounts of the relationship of law, corporate governance and finance. The concepts analyzed in Lynn Stout’s The Shareholder Value Myth are considered herein, as part of a commentary on the continuing evolution of academic corporate law and governance