Shareholder Primacy in Corporate Law: Can it Survive? Should it Survive?

Keay Andrew
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Keay Andrew: *Professor of Corporate and Commercial Law, Centre for Business Law and Practice, School of Law, University of Leeds, England.

European Company and Financial Law Review, 2010, vol. 7, issue 3, 369-413

Abstract: The dominant theory in Anglo-American jurisdictions, as far as determining the objective of large public corporations, has been, certainly since the 1970s, the shareholder primacy theory. Yet there have been in recent years a number of challenges to the dominance of this theory in Anglo-American jurisdictions. Given this, the article asks whether shareholder primacy is able retain its position as the dominating theory in relation to corporations in such jurisdictions? A second question that is considered is: should the theory survive?

Date: 2010
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DOI: 10.1515/ecfr.2010.369

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