Dirigeants d'entreprises, focaliser sur les actionnaires n'est pas légitime !

Taieb Hafsi and Fahim Youssofzai

Revue française de gestion, 2008, vol. n° 183, issue 3, 111-130

Abstract: In this article, with the support of their recent studies, the authors argue that : 1) a firm is not viable if it is focused only on serving its shareholders; 2) many firms across the World are flourishing even though they are subjected to constraining societal rules, which generally engage them to look at shareholders as only one of the multiple legitimate stakeholders to satisfy; 3) the world of organizations cannot survive without resisting the ferocious individualism imposed by a focus on shareholders, and without balancing it with a more ethical and a more communitarian perspective; 4) shareholders will benefit in the longer run if they are not the only focus of attention; 5) managers should be freed of such a servitude to be able to put their strategic skills at work for the benefit of all.

Date: 2008
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