v8n7: Strudler on von Kriegstein on Ownership and Shareholder PrimacyPosted: September 1, 2020
A RESPONSE TO Hasko von Kriegstein (2020), “Shareholder Ownership is Irrelevant for Shareholder Primacy”, Bus Ethics J Rev 8(4): 20–26, https://doi.org/10.12747/bejr2020.08.04
In this response to Hasko von Kriegstein, I defend several claims, including that the publicly-traded corporation and its assets are unowned; that managers may stand in fiduciary relations to shareholders that do not require managers to maximize shareholder wealth; and that the rights of a shareholder and of the owner of a privately-held corporation may differ fundamentally.
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Alan Strudler is Professor of Legal Studies and Business Ethics and Professor of Philosophy at the University of Pennsylvania.