BI Wikimedia Commons CEOs say it all the time: they have a responsibility to “maximize shareholder value.” Fund managers say it too: CEOs have a responsibility to maximize profits for shareholders. That’s the job of a corporation. But companies have not always seen themselves as serving stockholders first. The big change began with a professor. At the University of Chicago, economist Milton Friedman (who would later win the Nobel Prize) wrote this in the New York Times Magazine in 1970: �...
BI Wikimedia Commons CEOs say it all the time: they have a responsibility to “maximize shareholder value.” Fund managers say it too: CEOs have a responsibility to maximize profits for shareholders. That’s the job of a corporation. But companies have not always seen themselves as serving stockholders first. The big change began with a professor. At the University of Chicago, economist Milton Friedman (who would later win the Nobel Prize) wrote this in the New York Times Magazine in 1970: �...
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