The Pension System and the Rise of Shareholder Primacy — The Harvard Law School Forum on Corporate Governance

Small business of-interest.

Excerpt:  This article explores the reasons for this highly consequential change. It is often thought that shareholder primacy prevailed because it is more efficient, and managerialism therefore could no longer be maintained in a competitive economy. I argue that changes in the pension system have been a major force pushing corporate governance toward shareholder primacy

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