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Lucian Bebchuk, Kobi Kastiel & Roberto Tallarita, How Enlightened is Enlightened Shareholder Value?, ProMarket (May 10, 2022).

Abstract: There has been growing support for replacing the traditional corporate purpose with so-called “enlightened shareholder value,” which would guide firms to consider stakeholder interests when pursuing long-term shareholder value maximization. But such a move would not benefit stakeholders and might in fact be counterproductive.