One of the most significant debates about corporate governance centers on whether the organization owes a greater responsibility to the shareholder who has invested in the company or to the stakeholders and those who can most be affected by its actions, namely the employees, suppliers, creditors, and customers.After reviewing the resources for this week, respond to the following: Use the Internet to research alternative goals for shareholder wealth maximization.Identify countries with goals that differ from the U.S. or countries that are home to firms that have differing goals from those based in the U.S.Compare and contrast the difference between stakeholder focus goals versus shareholder focus goals.What are potential problems with both?Please review the Discussion Posting and Response Rubric before posting, and remember to include proper APA citations in all Discussion posts.
Please use the resources provided under:
Course TextRoss, S. A., Westerfield, R. W., & Jaffe, J. (2013). Corporate finance (10th ed.). New York: McGraw-Hill Irwin.Chapter 1, “Introduction to Corporate Finance “This chapter introduces some of the basic ideas in corporate finance; namely, capital budgeting, capital structure, and cash flow. In addition, there is a discussion on maximizing the value of stock, one of the most important concepts in finance.Chapter 2, “Financial Statements and Cash Flow”This chapter introduces and discusses basic corporate accounting procedures, as well as devices used to calculate a corporation’s cash flow from operations, changes in fixed assets, and changes in working capital.
Adams, S. (2008, February). Fundamentals of business economics. Financial Management (UK), 46–48. Retrieved from Business Source Premier database.
This article provides an analysis of the principal-agent problem and discusses some of the ways that many companies address the issue.Rappaport, A. (2006, September). Ten ways to create shareholder value. Harvard Business Review, 66–77. Retrieved from Business Source Premier database.In this article, the author states his belief that there are certain principles that when followed will result in increased shareholder value for a company. He provides a review of the 10 steps he has found to be most important and provides a brief description of each.
ArticlesShleifer, A., & Vishny, R. (1997). A survey of corporate governance. Journal of Finance, 52(2), 737–783. Retrieved from Business Source Premier database.The authors use a survey instrument to study how financial suppliers use corporate governance to assure that they receive a return on their investment.Almazan, A., Banerji, S., & DeMotta, A. (2008). Attracting attention: Cheap managerial talk and costly market monitoring. Journal of Finance, 63(3), 1399–1436. Retrieved from Business Source Premier database.This article presents a new theory as to the best way to increase shareholder value by seeking market attention while the firm is undervalued.When you’re ready to continue, please proceed to the Discussion and Applications.
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