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[...] while the assumptions that shareholders are the "true owners" of corporations, that corporations are solely private property, and that shareholder betrayal caused a post-Second World War corporate decline are all problematic and contestable assertions, they must also be understood as strategi…

[...] when a company's stock price was lower than the total value of its separate assets, "there was either something wrong with the stock market, which may be true, or there was something wrong with the guys who were running that company. Because if they [the managers] were smarter, they would hav…

The takeover movement of the 1980s was perhaps the single most important set of events to stimulate the "liquidation" of corporate America. Wielding the threat of corporate takeover, Wall Street investment banks forced corporations to choose between shareholder value and other alternatives of corpo…

[...] the poor stewardship and excesses of managers and how it was Wall Street investment bankers who realigned managers to their true purpose of increasing shareholder value. If a CEO did not do what was good for the stock price, then he or she was being self-serving and the only way to guard agai…

[...] In the immediate postwar period, then, the corporation was dominantly understood as a social institution, an organization with constituents and responsibilities well beyond the individuals and institutions that owned stock in the corporation. The primary concern of the corporation was the mai…