HAS THE OBJECTIVE OF THE CORPORATE FIRM CHANGED OVER TIME

This paper argues that despite changes in the technological and the business environment, with new concerns placed on people and planet in addition to profits, the objective of the public firm remains the same as it always has been �?? to maximize common shareholder wealth. We address the relevance of the old objective of the public firm in the current era of shareholder activism, instant social media, a discriminating customer base that...