The document discusses the agency problem in corporate governance, where corporate directors may not act in the best interest of stakeholders. It highlights the different solutions for shareholders, workers, and consumers, emphasizing the fiduciary obligations to shareholders. The text critiques the default corporate governance structure, which prioritizes shareholder primacy, and suggests that non-shareholding stakeholders are vulnerable to manipulation. It proposes altering discourse norms in corporate law to improve stakeholder protection.
doj/DataSet10/EFTA01379757.pdf
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