A mathematical logic approach to the shareholder vs stakeholder debate

Abstract

Uses an innovative approach to analyze the long‐standing claim that companies exist to maximize shareholder value. Five statements supporting this claim are tested using mathematical logic. Each one is found to be false. The community of business theorists, consultants, academics, and management practitioners that espouse shareholder value as the singular purpose of business are thus shown, from this perspective, to be wrong.

Citation

Emiliani, M.L. (2001), "A mathematical logic approach to the shareholder vs stakeholder debate", Management Decision, Vol. 39 No. 8, pp. 618-622. https://doi.org/10.1108/00251740110399521