Shareholder primacy - the original sin?

Shareholder primacy underpins and spawned ideas about shareholder value. The chapter questions the validity of shareholder primacy in US and Canadian corporations. Explaining its import from UK companies, it traces how shareholder primacy gained influence in US. The discussion reveals the problems in applying shareholder primacy to North American corporations, considering their origins and governing principles that are radically different from UK companies - specifically, the public interest inherent in North American corporations. Referring to the negative socioeconomic outcomes from shareholder value, the chapter argues for rejection of the shareholder primacy principle.