I analyze the current prevalence of the concept of shareholder value maximization in Brazil from the normative, case law, and managerial perspectives. On the normative aspect, I show that Brazilian corporate law is much closer to a balanced and socially oriented perspective for the role of...

This paper surveys the literature criticizing the view that managers should run companies aiming to create shareholder value by maximizing stock prices. Based on a multidisciplinary approach, I include empirical and theoretical papers from fields such as corporate law, management, finance,...