An interesting and insightful episode. Professor Marcoux was clear and even handed in his description of the issues. As someone who has litigated corporate disputes for almost 25 years now, I fall strongly into the camp that removing the focus from shareholders and allow management to focus on stakeholder interests as ends unto themselves would be a harmful turn. I perceive that it would insulate management, make it less accountable and that the more subjective nature of stakeholder governance would lead to management being more incentivized to pursue their own private interests in a way that would discourage investment and innovation. A good discussion nonetheless.
An interesting and insightful episode. Professor Marcoux was clear and even handed in his description of the issues. As someone who has litigated corporate disputes for almost 25 years now, I fall strongly into the camp that removing the focus from shareholders and allow management to focus on stakeholder interests as ends unto themselves would be a harmful turn. I perceive that it would insulate management, make it less accountable and that the more subjective nature of stakeholder governance would lead to management being more incentivized to pursue their own private interests in a way that would discourage investment and innovation. A good discussion nonetheless.