Shareholders profit maximization and stakeholders interests in corporate governance

Corporate Governance Objectives of Labor Union Shareholders

Labor union shareholders have become increasingly vocal in matters of corporate governance, however, their motives have been subject to much debate in the academic literature and business press. I examine the proxy votes of AFL-CIO pension funds in director elections of 504 companies from 2003 to 2006. Using the 2005 AFL-CIO breakup as a source of exogenous variation in the union affiliations o...

Maximizing Stakeholders’ Interests: an Empirical Analysis of the Stakeholder Approach to Corporate Governance

The purpose of the present paper is to help bring some advances in the characterization of the emerging stakeholder model of corporate governance. This shall be achieved by analyzing CSR function at board level, board diversity and stakeholder engagement and by examining its relationship with financial performance. Based on an empirical study of an international sample of large companies, we fo...

The Corporate Governance of Profit Shifting

Shareholders vs Stakeholders Capitalism

Workers vs. Shareholders under United States Corporate Law: Reforming Corporate Fiduciary Law to Protect Worker Interests

Despite both socio-economic and equitable reasons to consider workers'1 interests in boardroom decision-making, 2 corporate boards have usually ignored such interests, and corporate law in the United States generally has not imposed a fiduciary duty on these boards to take account of those interests. 3 Yet the social and economic consequences of corporate boards' lack of concern for workers' in...