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Discuss ‘stakeholder theory and shareholder primacy have both been shown to be lacking in significant ways and should be rejected as a basis for any corporate governance system'

Discuss ‘stakeholder theory and shareholder primacy have both been shown to
be lacking in significant ways and should be rejected as a basis
代写留学生论文for any corporate governance system'

Introduction
1 Disaster of "shareholder primacy"
1.1 Theoretical basis of "shareholder primacy"
1.2 "Shareholder primacy" causes problem of corporate governance

2 Can stakeholder theory solve the problem of corporate governance?
2.1 Theoretical basis of stakeholder theory
2.2 Criticism of stakeholder theory

3 Clear the basis of corporate governance system (corporate governance, social responsibility and stakeholders)

Conclusion

Introduction
A series of corporate accounting scandals such as Enron and WorldCom in U.S., Parramatta in Italy, and the Yin Guang Sha Event in China, has exposed the increasingly severe worldwide problem of corporate governance. With the emergence of a series of institutional measures, the global corporate governance reform is now moving into top gear. Meanwhile, the corporate governance has now become a hot issue for the academic and business circles all over the world.

Regarding corporation evolution, sociologists and historians have focused on the organizational forms' diversity and the theoretical approaches of corporation.  The corporate governance should be carried out for whose interests and for whom? As for the answers, there exist two kinds of controversial views in the academic circle: one is centered on the interests of shareholders, that is, “shareholder primacy”; another is stakeholder-centered, that is, “stakeholders primacy”. “Shareholders primacy” and “stakeholders primacy” are representatives of the two controversial point of views. The “shareholders primacy” doctrine regards the maximization of the shareholders’ interests as the goal of the corporate governance, taking the “capital hired labor” and agency theory as its theoretical basis and executing the unilateral control of the shareholders, while the “stakeholders primacy” doctrine aims to maximize the interests of the stakeholders in the corporate governance, and is based on the stakeholder theory, advocating the joint governance of all stakeholders.

The paper aims to make a comparison of the theoretical connotation of the “shareholders primacy” and the “stakeholders primacy” models, to illustrate their advantages and challenges, and to discuss the corporate governance issue based on these theoretical foundation.

1 Queries of "shareholder primacy"
1.1 Theoretical basis of "shareholder primacy"
Scholars are always interested in corporations from the very beginning it has legitimate legal configurations.  For different people, corporatioans mean different things , while different era has its dominant paradigm. “Shareholder primacy” is a conventional point of view in corporate governing, believing that the corporation is owned by the shareholders, from whom the rights of the corporation are derived. In 1932, Adolph Berle and Gardner Means drew a distinction between absentee shareholder ownership and management's control of property.  Managers have authorities to manager corporation while shareholders have authorities to organize and control resources and本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。