Shareholder Value Maximisation, Stock Market and New Technology: Should the US Corporate Model be the Universal Standard? 1

Ajit Singh, Jack Glen, Ann Zammit, De-Hoyos, Rafael, Alaka Singh and Bruce Weisse
Authors registered in the RePEc Author Service: Ajit Singh, Ajit Singh and Rafael E. De Hoyos ()

International Review of Applied Economics, 2005, vol. 19, issue 4, pages 419-437

Abstract: In 1992 a blue-ribbon group of US economists led by Michael Porter concluded that the US stock market-based corporate model was misallocating resources and jeopardising US competitiveness. The faster growth of US economy since then and the supposed US lead in the spread of information technology has brought new legitimacy to the stock market and the corporate model, which is being hailed as the universal standard. Two main conclusions of the analysis presented here are: (a) there is no warrant for revising the blue-ribbon group’s conclusion; and (b) even US corporations let alone developing country ones would be better off not having stock market valuation as a corporate goal.

Keywords: Shareholder wealth; Information Technology; stock-market efficiency (search for similar items in EconPapers)
Date: 2005
View list of references View citations in EconPapers

Downloads: (external link)
http://taylorandfrancis.metapress.com/link.asp?tar ... &id=XMV8MU5261551654 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Shareholder value maximisation, stock market and new technology: should the US corporate model be the universal standard (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:taf:irapec:v:19:y:2005:i:4:p:419-437

Ordering information: This journal article can be ordered from
http://www.tandf.co.uk/journals/subscription.html

Access Statistics for this article

International Review of Applied Economics is edited by Malcolm Sawyer, Philip Arestis, Keith Cowling and Ron Smith

More articles in International Review of Applied Economics from Taylor and Francis Journals
Series data maintained by Christopher F. Baum ().