IBIS - Fishing With Dynamite Documentary - Resources

Fishing With Dynamite Documentary

Resources

Research Compendium

History

Fligstein, N. and Shin, T. (2007). Shareholder Value and the Transformation of the U.S. Economy, 1984–2001. Sociological Forum 22 (4), pp. 399-424.

Lazonick, W. and O'Sullivan, M. (2000). Maximizing Shareholder Value: A New Ideology for Corporate Governance. Economy and Society 29 (1), pp. 13-35.

Lindborg, H.J. (2013). Stake Your Ground: Unearthing the Origins of Stakeholder Management. Quality Progress.

Mizruchi, M. and Kimeldorf, H. (2005). The Historical Context of Shareholder Value Capitalism. Political Power and Social Theory 17, pp. 213-221.

Stout, L.A. (2013). On the Rise of Shareholder Primacy, Signs of Its Fall, and the Return of Managerialism (in the Closet). Cornell Law Faculty Publications. Paper 865.

Zorn, D., Dobbin, F., Dierkes, J., and Kwok, M. (2004). Managing Investors: How Financial Markets Reshaped the American Firm. Pp. 269-289 in The Sociology of Financial Markets, edited by Karin Knorr Cetina and Alexandru Preda. London: Oxford University Press.
Supporting Research
Stakeholder Theory

Agle, B.R., Mitchell, R.K., and Wood, D.J. (1997). Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Academy of Management Review 22 (4), pp. 853-886.

Agle, B.R., Mitchell, R.K., and Sonnenfeld, J.A. (1999). Who matters to CEOs? An investigation of stakeholder attributes and salience, corporate performance, and CEO values. Academy of Management 42 (5), pp. 507-525.

Atkinson, A.A. and Waterhouse, J.H. (1997). A stakeholder approach to strategic performance measurement. Sloan Management Review 38 (3), pp. 25-37.

Berman, S.L., Kotha, S., and Wicks, A.C. (1999). Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance. Academy of Management 42 (5), pp. 488-506.

Bhattacharya, C.B. and Sen, S. (2006). The role of corporate social responsibility in strengthening multiple stakeholder relationships: A field experiment. Journal of the Academy 34 (2), pp. 158-166.

Buchholtz, A., and Carroll, A. (2014). Business and society: Ethics, sustainability, and stakeholder management. Mason, OH: Nelson Education: Cengage Learning.

Buysse, K. and Verbeke, A. (2003). Proactive environmental strategies: A stakeholder management perspective. Strategic Management Journal 24 (5), pp. 453-470.

Clarkson, M.E. (1995). A stakeholder framework for analyzing and evaluating corporate social performance. Academy of Management Review 20 (1), pp. 92-117.

Donaldson, T., Preston, L.E. (1995). The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of Management Review, 20 (1), pp. 65-91.

Evan, W.M., Freeman R.E. (1988). A stakeholder theory of the modern corporation: Kantian capitalism. Perspectives in Business Ethics Site.

Freeman, R.E. (2001). A stakeholder theory of the modern corporation. Perspectives in Business Ethics Sie 3, p. 144.

Freeman, R.E. (1994). The politics of stakeholder theory: Some future directions. Business Ethics Quarterly 4 (4), pp. 409-421.

Freeman, R.E. (2010). Strategic management: A stakeholder approach. Cambridge University Press.

Freeman, R.E., McVea, J. (2001). A stakeholder approach to strategic management. SSRN Electronic Journal.

Freeman, R.E., Wicks, A.C., Parmar, B. (2004). Stakeholder theory and “the corporate objective revisited.  Organization Science 15 (3), pp. 364-369.

Frooman, J. (1999). Stakeholder influence strategies. Academy of Management Review 20 (2), pp. 191-205.

Henriques, I., Sadorsky, P. (1999). The relationship between environmental commitment and managerial perceptions of stakeholder importance. Academy of Management Journal 42 (1), pp. 87-99.

Hill, C.W.L., Jones, T.M. (1992). Stakeholder-agency theory. Journal of Management Studies 29 (2), pp. 131-154.

Hillman, A.J., Keim, G.D. (2001). Shareholder value, stakeholder management, and social issues: what’s the bottom line? Strategic Management Journal 22 (2), pp. 125-139.

Jensen, M.C. (2001). Value maximization, stakeholder theory, and the corporate objective function. Journal of Applied Corporate Finance, 14 (3), pp. 8-21.

Jones, T.M. (1995). Instrumental stakeholder theory: A synthesis of ethics and economics.  Academy of Management Review, 20 (2), pp. 404-437.

Jones, T.M., Wicks, A.C. (1999). Convergent stakeholder theory. Academy of Management Review 24 (2), pp. 206-221.

Lane, V.R., Scott, S.G. (2000). A stakeholder approach to organizational identity. Academy of Management Review 25 (1), pp. 43-62.

Parmar, B.L., Keevil, A. and Wicks, A.C. (2019). People and Profits: The Impact of Corporate Objectives on Employees’ Need Satisfaction at Work. Journal of Business Ethics 154 (1), pp. 13-33.

Roberts, R.W. (1992). Determinants of corporate social responsibility disclosure: An application of stakeholder theory. Accounting, Organizations and Society 17 (6), pp. 595-612.

Rowley, T.J (1997). Moving beyond dyadic ties: A network theory of stakeholder influences. Academy of Management Review, 22 (4), pp. 887-910.

Stakeholder Company Performance

Cascio, W. F. (2006). Decency means more than ‘Always low prices’: A comparison of Costco to Wal-Mart's Sam's Club. The Academy of Management Perspectives 20 (3), pp. 26-37.

Choi, J. & Heli, W. (2009). Stakeholder Relations and the Persistence of Corporate Financial Performance. Strategic Management Journal 30 (8), pp. 895-907.

De Luque, M. S., Washburn, N. T., Waldman, D. A., and House, R. J. (2008). Unrequited Profit: How Stakeholder and Economic Values Relate to Subordinates' Perceptions of Leadership and Firm Performance. Administrative Science Quarterly 53 (4), pp. 626-654.

Edmans, A. (2011). Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity Prices. Journal of Financial Economics 101 (3), 621-640.

Edmans, A. (2012). The Link Between Job Satisfaction and Firm Value, with Implications for Corporate Social Responsibility. Academy of Management Perspectives 26 (4), pp. 1-19.

Edmans, A. (2016). 28 Years of Stock Market Data Shows a Link Between Employee Satisfaction and Long-Term Value. Harvard Business Review.

Flammer, C. et al. (2015). The Impact of Stakeholder Orientation on Innovation: Evidence from a Natural Experiment. Management Science 62 (7), pp. 1982-2001.

Graves, S. B. & Waddock, S. A. (2000). Beyond Built to Last...Stakeholder Relations in “Built-to-Last” Companies. Business and Society Review 105 (4), pp. 393-418.

Shaheen, I. & Naseem, N. (2015). A Review of Customer Satisfaction, Employee Satisfaction and Their Impact on Firm Performance. International Journal of Management & Organizational Studies 4 (1), pp. 34-38.

Shareholder Value Maximization

Aglietta, M. & Reberioux, A. (2005). Corporate Governance Adrift: A Critique of Shareholder Value. Northampton, MA: Edward Elgar Publishing, Inc.

Collings, D. G. (2014). Toward Mature Talent Management: Beyond Shareholder Value. Human Resource Development Quarterly 25 (3), pp. 301-319.

Dobbin, F. & Jung, J. (2010). The Misapplication of Mr. Michael Jensen: How Agency Theory Brought Down the Economy and Why it Might Again. Markets on Trial: The Economic Sociology of the U.S. Financial Crisis (Research in the Sociology of Organizations) 30B:29-64.

Engelen, E. (2002). Corporate governance, property and democracy: a conceptual critique of shareholder ideology. Economy and Society 31 (3), pp. 391-413.

Friedman, M. (1970, September). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.

Jensen, M. and Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3 (4), pp. 305-360.

Jones, T. M. and Felps, W. (2013). Shareholder Wealth Maximization and Social Welfare: A Utilitarian Critique. Business Ethics Quarterly 23 (2), pp. 207-238.

Koslowski, P. (2000). The Limits of Shareholder Value. Journal of Business Ethics 27, pp. 137-148.

Magill, M. J. P., Quinzii, M. and Rochet, J. (2013). A Critique of Shareholder Value Maximization. Swiss Finance Institute Research Paper No. 13-16.

Quade, M. J., McLarty, B. D., and Bonner, J. M. (2019). The Influence of Supervisor Bottom-Line Mentality and Employee Bottom-Line Mentality on Leader-Member Exchange and Subsequent Employee Performance. Human Relations, pp. 1-25.

Supporting Research

Barton, D. et al. (2017, February). Measuring the Economic Impact of Short-Termism (Report). McKinsey & Company Global Institute.

The Business Roundtable. (1981, October). Statement on Corporate Responsibility.

The Business Roundtable. (1997, September). Statement on Corporate Governance.

De Bussy, N. M. and Lokweetpun, S. (2012). Most Valuable Stakeholders: The Impact of Employee Orientation on Corporate Financial Performance. Public Relations Review 38 (2), pp. 280-287.

Edmans, A, Fang, V. W., and Huang, A. (2019). The Long-Term Consequences of Short-Term Incentives. European Corporate Governance Institute (ECGI) - Finance Working Paper No. 527/2017.

Enayati, H., Hallock, K. and Barrington, L. (2015). TSR, Executive Compensation, and Firm Performance. A Brief Prepared by the Institute for Compensation Studies. ILR School, Cornell University.

Sabadish, N. and Mishel, L. (2013, June). CEO Pay in 2012 Was Extraordinarily High Relative to Typical Workers and Other High Earners. Economic Policy Institute.

Stout, L. A. (2012, June). The Problem of Corporate Purpose. Issues in Governance Studies 48, pp. 1-12.
Popular Press

Appelbaum, Eileen. (2020, February 16). How Private Equity Ruined a Beloved Grocery Chain. The Atlantic.

Denning, S. (2011, November 28). The Dumbest Idea in the World: Maximizing Shareholder Value. Forbes.

Denning, S. (2019, May 6). How To Solve America’s $100 Trillion Problem Of Wealth Inequality. Forbes.

Denning, S. (2012, January 25). Shift Index 2011: The Most Important Business Study – Ever?. Forbes.

Denning, S. (2019, August 19). Why Maximizing Shareholder Value is Finally Dying. Forbes.

Fink, L. (2019, January). Larry Fink’s 2019 Letter to CEOs: Purpose & Profit. BlackRock.

Foroohar, Rana. (2018, March 4). The backlash against shareholder value. Financial Times.

Guerrera, F. (2009, March 12). Welch condemns share price focus. Financial Times.

Iyengar, R. (2015, April 2). This is how long your business will last, according to science. Fortune.

Kenny, G. (2015, August 26). The False Promise of the Single Metric. Harvard Business Review.

Kestenbaum, Richard. (2018, December 4). Customer Satisfaction is More Important Than You Thought. Forbes.

Laughland, P. (2011, June 10). Stakeholder Relations Sustain Positive Financial Performance. Network for Business Sustainability.

Lazonick, W. (2014, September). Profits Without Prosperity. Harvard Business Review.

Lewitinn, L. (2015, October 2). Paying CEOs fat bonuses for stock performance doesn't work —Cornell study. Yahoo Finance.

Martin, R. (2012, March 18). Earning a Real Return on Real Investment. HuffPost.

Martin, Roger L. (2010, March). Why CEOs Don’t Owe Shareholders a Return on Market Value. Harvard Business Review.

Mclaughlin, K. and McMillon, D. (2015, April). Business and society in the coming decades (Commentary). McKinsey & Company.

Oppenheim, J. and Stuchtey, M. (2015, September 24). Like it or not, sustainability is now core to your business. Fortune.

Perez, T. E. (2015, September 5). Fair labor practice helps us all. Boston Globe.

Peters, A. (2015, September 15). How Crazy CEO Pay Is Also Making Climate Change Worse. Fast Company.

Stallard, M L. (2015, July 27). Love: The Ultimate Competitive Advantage. Fox Business.

Stallard, M. (2015, July 29). 4 Ways Love Provides a Competitive Advantage. Connection Culture Group.

Trottman, M. (2015, May 13). Top CEOs Make 373 Times the Average U.S. Worker. Wall Street Journal.
Research in the Film

(2019, April 5). American Airlines Chairman and CEO Doug Parker named W. P. Carey 2019 Executive of the Year. W.P. Carey School of Business.

The Business Roundtable. (1981, October). Statement on Corporate Responsibility.

The Business Roundtable. (1997, September). Statement on Corporate Governance.

Davis, K L. (2016, June 3). Price Gougers Like Valeant Pharmaceuticals Must Be Tamed. Forbes.

Freeman, R E. (1984). Strategic Management: A Stakeholder Approach. New York: Cambridge.

Friedman, M. (1970, September). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.

Georgescu, P. (2017, May 31). A Pinch of Wall Street Madness. Forbes.

Gomory, R. and Sylla, R. (2013). The American Corporation. Daedalus 142 (2). ***

Hotten, R. (2015, December 10). Volkswagen: The scandal explained. BBC News.

Icahn, C. (2015, May 18). Carl Icahn Issues Open Letter to Tim Cook. CarlIcahn.com.

Jensen, M. and Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3 (4), pp. 305-360.

McLean, B. (2015). Shaky Ground: The Strange Saga of the U.S. Mortgage Giants. New York: Columbia Global Reports.

Mclean, B and Elkind, P. (2004). The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron. New York: Penguin.

McLean, B. and Nocera, J. (2010). All the Devils Are Here: The Hidden History of the Financial Crisis. New York: Penguin.

Miyashiro, A K. (2017, September 14). Mylan’s EpiPen Pricing Scandal. Seven Pillars Institute.

Omnibus Reconciliation Act of 1993.

Rodriguez, B (2018, December 28). Wells Fargo agrees to $575 million settlement affecting all 50 states in wake of fake accounts. USA Today.

Smith, A. (2002). Adam Smith: The Theory of Moral Sentiments (Cambridge Texts in the History of Philosophy) (K. Haakonssen, Ed.). Cambridge: Cambridge University Press.

Smith, A. (2000). Adam Smith: The Wealth of Nations (Modern Library Classics). New York: Random House.
Ethical Companies

Rankings

2020 Overall Rankings via Just Capital

The 2019 World's Most Ethical Companies Honoree List via Ethisphere

The Most Ethical Companies in America, According to Consumers: Report Preview via Morning Consult

Most Trusted Brands 2020 via Morning Consult

Articles and Resources

Kenny, Brian (host). (2020, January 7). Can Capitalism Be Fixed by Making Companies More Just? [Audio podcast].

McGrath, Maggie. (2019, November 12). "Bottom of the Barrel: 92 Of America's Worst Corporate Citizens in 2019." Forbes.

Fligstein, N. and Shin, T. (2007). Shareholder Value and the Transformation of the U.S. Economy, 1984–2001. Sociological Forum 22 (4), pp. 399-424.

Lazonick, W. and O'Sullivan, M. (2000). Maximizing Shareholder Value: A New Ideology for Corporate Governance. Economy and Society 29 (1), pp. 13-35.

Lindborg, H.J. (2013). Stake Your Ground: Unearthing the Origins of Stakeholder Management. Quality Progress.

Mizruchi, M. and Kimeldorf, H. (2005). The Historical Context of Shareholder Value Capitalism. Political Power and Social Theory 17, pp. 213-221.

Stout, L.A. (2013). On the Rise of Shareholder Primacy, Signs of Its Fall, and the Return of Managerialism (in the Closet). Cornell Law Faculty Publications. Paper 865.

Zorn, D., Dobbin, F., Dierkes, J., and Kwok, M. (2004). Managing Investors: How Financial Markets Reshaped the American Firm. Pp. 269-289 in The Sociology of Financial Markets, edited by Karin Knorr Cetina and Alexandru Preda. London: Oxford University Press.

Stakeholder Theory

Agle, B.R., Mitchell, R.K., and Wood, D.J. (1997). Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Academy of Management Review 22 (4), pp. 853-886.

Agle, B.R., Mitchell, R.K., and Sonnenfeld, J.A. (1999). Who matters to CEOs? An investigation of stakeholder attributes and salience, corporate performance, and CEO values. Academy of Management 42 (5), pp. 507-525.

Atkinson, A.A. and Waterhouse, J.H. (1997). A stakeholder approach to strategic performance measurement. Sloan Management Review 38 (3), pp. 25-37.

Berman, S.L., Kotha, S., and Wicks, A.C. (1999). Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance. Academy of Management 42 (5), pp. 488-506.

Bhattacharya, C.B. and Sen, S. (2006). The role of corporate social responsibility in strengthening multiple stakeholder relationships: A field experiment. Journal of the Academy 34 (2), pp. 158-166.

Buchholtz, A., and Carroll, A. (2014). Business and society: Ethics, sustainability, and stakeholder management. Mason, OH: Nelson Education: Cengage Learning.

Buysse, K. and Verbeke, A. (2003). Proactive environmental strategies: A stakeholder management perspective. Strategic Management Journal 24 (5), pp. 453-470.

Clarkson, M.E. (1995). A stakeholder framework for analyzing and evaluating corporate social performance. Academy of Management Review 20 (1), pp. 92-117.

Donaldson, T., Preston, L.E. (1995). The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of Management Review, 20 (1), pp. 65-91.

Evan, W.M., Freeman R.E. (1988). A stakeholder theory of the modern corporation: Kantian capitalism. Perspectives in Business Ethics Site.

Freeman, R.E. (2001). A stakeholder theory of the modern corporation. Perspectives in Business Ethics Sie 3, p. 144.

Freeman, R.E. (1994). The politics of stakeholder theory: Some future directions. Business Ethics Quarterly 4 (4), pp. 409-421.

Freeman, R.E. (2010). Strategic management: A stakeholder approach. Cambridge University Press.

Freeman, R.E., McVea, J. (2001). A stakeholder approach to strategic management. SSRN Electronic Journal.

Freeman, R.E., Wicks, A.C., Parmar, B. (2004). Stakeholder theory and “the corporate objective revisited. Organization Science 15 (3), pp. 364-369.

Frooman, J. (1999). Stakeholder influence strategies. Academy of Management Review 20 (2), pp. 191-205.

Henriques, I., Sadorsky, P. (1999). The relationship between environmental commitment and managerial perceptions of stakeholder importance. Academy of Management Journal 42 (1), pp. 87-99.

Hill, C.W.L., Jones, T.M. (1992). Stakeholder-agency theory. Journal of Management Studies 29 (2), pp. 131-154.

Hillman, A.J., Keim, G.D. (2001). Shareholder value, stakeholder management, and social issues: what’s the bottom line? Strategic Management Journal 22 (2), pp. 125-139.

Jensen, M.C. (2001). Value maximization, stakeholder theory, and the corporate objective function. Journal of Applied Corporate Finance, 14 (3), pp. 8-21.

Jones, T.M. (1995). Instrumental stakeholder theory: A synthesis of ethics and economics. Academy of Management Review, 20 (2), pp. 404-437.

Jones, T.M., Wicks, A.C. (1999). Convergent stakeholder theory. Academy of Management Review 24 (2), pp. 206-221.

Lane, V.R., Scott, S.G. (2000). A stakeholder approach to organizational identity. Academy of Management Review 25 (1), pp. 43-62.

Parmar, B.L., Keevil, A. and Wicks, A.C. (2019). People and Profits: The Impact of Corporate Objectives on Employees’ Need Satisfaction at Work. Journal of Business Ethics 154 (1), pp. 13-33.

Roberts, R.W. (1992). Determinants of corporate social responsibility disclosure: An application of stakeholder theory. Accounting, Organizations and Society 17 (6), pp. 595-612.

Rowley, T.J (1997). Moving beyond dyadic ties: A network theory of stakeholder influences. Academy of Management Review, 22 (4), pp. 887-910.

Stakeholder Company Performance

Cascio, W. F. (2006). Decency means more than ‘Always low prices’: A comparison of Costco to Wal-Mart's Sam's Club. The Academy of Management Perspectives 20 (3), pp. 26-37.

Choi, J. & Heli, W. (2009). Stakeholder Relations and the Persistence of Corporate Financial Performance. Strategic Management Journal 30 (8), pp. 895-907.

De Luque, M. S., Washburn, N. T., Waldman, D. A., and House, R. J. (2008). Unrequited Profit: How Stakeholder and Economic Values Relate to Subordinates' Perceptions of Leadership and Firm Performance. Administrative Science Quarterly 53 (4), pp. 626-654.

Edmans, A. (2011). Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity Prices. Journal of Financial Economics 101 (3), 621-640.

Edmans, A. (2012). The Link Between Job Satisfaction and Firm Value, with Implications for Corporate Social Responsibility. Academy of Management Perspectives 26 (4), pp. 1-19.
Edmans, A. (2016). 28 Years of Stock Market Data Shows a Link Between Employee Satisfaction and Long-Term Value. Harvard Business Review.

Flammer, C. et al. (2015). The Impact of Stakeholder Orientation on Innovation: Evidence from a Natural Experiment. Management Science 62 (7), pp. 1982-2001.

Graves, S. B. & Waddock, S. A. (2000). Beyond Built to Last...Stakeholder Relations in “Built-to-Last” Companies. Business and Society Review 105 (4), pp. 393-418.

Shaheen, I. & Naseem, N. (2015). A Review of Customer Satisfaction, Employee Satisfaction and Their Impact on Firm Performance. International Journal of Management & Organizational Studies 4 (1), pp. 34-38.

Shareholder Value Maximization

Aglietta, M. & Reberioux, A. (2005). Corporate Governance Adrift: A Critique of Shareholder Value. Northampton, MA: Edward Elgar Publishing, Inc.

Collings, D. G. (2014). Toward Mature Talent Management: Beyond Shareholder Value. Human Resource Development Quarterly 25 (3), pp. 301-319.

Dobbin, F. & Jung, J. (2010). The Misapplication of Mr. Michael Jensen: How Agency Theory Brought Down the Economy and Why it Might Again. Markets on Trial: The Economic Sociology of the U.S. Financial Crisis (Research in the Sociology of Organizations) 30B:29-64.

Engelen, E. (2002). Corporate governance, property and democracy: a conceptual critique of shareholder ideology. Economy and Society 31 (3), pp. 391-413.

Friedman, M. (1970, September). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.

Jensen, M. and Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3 (4), pp. 305-360.

Jones, T. M. and Felps, W. (2013). Shareholder Wealth Maximization and Social Welfare: A Utilitarian Critique. Business Ethics Quarterly 23 (2), pp. 207-238.

Koslowski, P. (2000). The Limits of Shareholder Value. Journal of Business Ethics 27, pp. 137-148.

Magill, M. J. P., Quinzii, M. and Rochet, J. (2013). A Critique of Shareholder Value Maximization. Swiss Finance Institute Research Paper No. 13-16.

Quade, M. J., McLarty, B. D., and Bonner, J. M. (2019). The Influence of Supervisor Bottom-Line Mentality and Employee Bottom-Line Mentality on Leader-Member Exchange and Subsequent Employee Performance. Human Relations, pp. 1-25.

Supporting Research

Barton, D. et al. (2017, February). Measuring the Economic Impact of Short-Termism (Report). McKinsey & Company Global Institute.

The Business Roundtable. (1981, October). Statement on Corporate Responsibility.

The Business Roundtable. (1997, September). Statement on Corporate Governance.

De Bussy, N. M. and Lokweetpun, S. (2012). Most Valuable Stakeholders: The Impact of Employee Orientation on Corporate Financial Performance. Public Relations Review 38 (2), pp. 280-287.

Edmans, A, Fang, V. W., and Huang, A. (2019). The Long-Term Consequences of Short-Term Incentives. European Corporate Governance Institute (ECGI) - Finance Working Paper No. 527/2017.

Enayati, H., Hallock, K. and Barrington, L. (2015). TSR, Executive Compensation, and Firm Performance. A Brief Prepared by the Institute for Compensation Studies. ILR School, Cornell University.

Sabadish, N. and Mishel, L. (2013, June). CEO Pay in 2012 Was Extraordinarily High Relative to Typical Workers and Other High Earners. Economic Policy Institute.

Stout, L. A. (2012, June). The Problem of Corporate Purpose. Issues in Governance Studies 48, pp. 1-12.

Appelbaum, Eileen. (2020, February 16). How Private Equity Ruined a Beloved Grocery Chain. The Atlantic.

Denning, S. (2011, November 28). The Dumbest Idea in the World: Maximizing Shareholder Value. Forbes.

Denning, S. (2019, May 6). How To Solve America’s $100 Trillion Problem Of Wealth Inequality. Forbes.

Denning, S. (2012, January 25). Shift Index 2011: The Most Important Business Study – Ever?. Forbes.

Denning, S. (2019, August 19). Why Maximizing Shareholder Value is Finally Dying. Forbes.

Fink, L. (2019, January). Larry Fink’s 2019 Letter to CEOs: Purpose & Profit. BlackRock.

Foroohar, Rana. (2018, March 4). The backlash against shareholder value. Financial Times.

Guerrera, F. (2009, March 12). Welch condemns share price focus. Financial Times.

Iyengar, R. (2015, April 2). This is how long your business will last, according to science. Fortune.

Kenny, G. (2015, August 26). The False Promise of the Single Metric. Harvard Business Review.

Kestenbaum, Richard. (2018, December 4). Customer Satisfaction is More Important Than You Thought. Forbes.

Laughland, P. (2011, June 10). Stakeholder Relations Sustain Positive Financial Performance. Network for Business Sustainability.

Lazonick, W. (2014, September). Profits Without Prosperity. Harvard Business Review.

Lewitinn, L. (2015, October 2). Paying CEOs fat bonuses for stock performance doesn't work —Cornell study. Yahoo Finance.

Martin, R. (2012, March 18). Earning a Real Return on Real Investment. HuffPost.

Martin, Roger L. (2010, March). Why CEOs Don’t Owe Shareholders a Return on Market Value. Harvard Business Review.

Mclaughlin, K. and McMillon, D. (2015, April). Business and society in the coming decades (Commentary). McKinsey & Company.

Oppenheim, J. and Stuchtey, M. (2015, September 24). Like it or not, sustainability is now core to your business. Fortune.

Perez, T. E. (2015, September 5). Fair labor practice helps us all. Boston Globe.

Peters, A. (2015, September 15). How Crazy CEO Pay Is Also Making Climate Change Worse. Fast Company.

Stallard, M L. (2015, July 27). Love: The Ultimate Competitive Advantage. Fox Business.

Stallard, M. (2015, July 29). 4 Ways Love Provides a Competitive Advantage. Connection Culture Group.

Trottman, M. (2015, May 13). Top CEOs Make 373 Times the Average U.S. Worker. Wall Street Journal.

(2019, April 5). American Airlines Chairman and CEO Doug Parker named W. P. Carey 2019 Executive of the Year. W.P. Carey School of Business.

The Business Roundtable. (1981, October). Statement on Corporate Responsibility.

The Business Roundtable. (1997, September). Statement on Corporate Governance.

Davis, K L. (2016, June 3). Price Gougers Like Valeant Pharmaceuticals Must Be Tamed. Forbes.

Freeman, R E. (1984). Strategic Management: A Stakeholder Approach. New York: Cambridge.

Friedman, M. (1970, September). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.

Georgescu, P. (2017, May 31). A Pinch of Wall Street Madness. Forbes.

Gomory, R. and Sylla, R. (2013). The American Corporation. Daedalus 142 (2). ***

Hotten, R. (2015, December 10). Volkswagen: The scandal explained. BBC News.

Icahn, C. (2015, May 18). Carl Icahn Issues Open Letter to Tim Cook. CarlIcahn.com.

Jensen, M. and Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3 (4), pp. 305-360.

McLean, B. (2015). Shaky Ground: The Strange Saga of the U.S. Mortgage Giants. New York: Columbia Global Reports.

Mclean, B and Elkind, P. (2004). The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron. New York: Penguin.

McLean, B. and Nocera, J. (2010). All the Devils Are Here: The Hidden History of the Financial Crisis. New York: Penguin.

Miyashiro, A K. (2017, September 14). Mylan’s EpiPen Pricing Scandal. Seven Pillars Institute.

Omnibus Reconciliation Act of 1993.

Rodriguez, B (2018, December 28). Wells Fargo agrees to $575 million settlement affecting all 50 states in wake of fake accounts. USA Today.

Smith, A. (2002). Adam Smith: The Theory of Moral Sentiments (Cambridge Texts in the History of Philosophy) (K. Haakonssen, Ed.). Cambridge: Cambridge University Press.

Smith, A. (2000). Adam Smith: The Wealth of Nations (Modern Library Classics). New York: Random House.

Rankings

2020 Overall Rankings via Just Capital

The 2019 World's Most Ethical Companies Honoree List via Ethisphere

The Most Ethical Companies in America, According to Consumers: Report Preview via Morning Consult

Most Trusted Brands 2020 via Morning Consult

Articles and Resources

Kenny, Brian (host). (2020, January 7). Can Capitalism Be Fixed by Making Companies More Just? [Audio podcast].

McGrath, Maggie. (2019, November 12). "Bottom of the Barrel: 92 Of America's Worst Corporate Citizens in 2019." Forbes.

"I get so outraged by unethical moneymaking precisely because I think business done well is such an important driver of the better world."

Bethany McLean

Contributing Editor, Vanity Fair and Author of The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron

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