Edward Elgar Publishing Edward Elgar - Corporate Governance Adrift - Business Book

Explore the deep contradictions within modern capitalism in Corporate Governance Adrift: A Critique of Shareholder Value. Part of the Cournot Centre series, this book examines how recent corporate governance scandals have highlighted the friction between financial markets and stable business management. Authors Michel Aglietta and Antoine Reberioux present a challenging argument against the idea that companies should exist solely to serve shareholder interests. They suggest that this focus is incompatible with today's liquid markets and profit-driven investor environment, which often leads to chronic financial instability. Instead of following the current trend, the authors propose a new way forward. They advocate for managing companies as institutions that develop common objectives for all stakeholders. This book provides a necessary perspective for anyone studying the relationship between corporate management, financial markets, and economic stability.