This is a preview. Log in through your library . Abstract Many scholars and managers endorse the idea that the primary purpose of the firm is to make money for its owners. This shareholder wealth ...

In 1970, Milton Friedman famously wrote, "There is one and only one social responsibility of business--to use its resources and engage in activities designed to increase its profits so long as it ...

Milton Friedman’s admonition 50 years ago that the modern corporation should maximize shareholder value remains controversial. We argue that under certain broad assumptions, the admonition remains a ...