Can corporations' relentless focus on maximising shareholder wealth actually harm investors? UNSW's Centre for Law, Markets and Regulation presents Prof Lynn Stout, the Paul Hastings Distinguished Professor of Corporate and Securities Law at UCLA, in the second seminar of the series "In Who or What Do We Trust?"
Lynn Stout has been described as "the closest thing to a rockstar in corporate governance". Professor Stout advocates the end of shareholder primacy where public corporations belong to their shareholders and firms exist for one purpose only - to maximise shareholder wealth. However, modern corporate practice needn't be this way. Professor Stout argues that shareholder value thinking actually harms investors, over time and as a class.
The CLMR in association with Allens Arthur Robinsion and the Centre for International Finance and Regulation is delighted to welcome Professor Stout to lead the second seminar in the series ‘In Who or What Do We Trust.’
The lecture is followed by a panel discussion moderated by Professor Justin O’Brien, Director of the CLMR. Panelists include:
- Professor David Vines, Professor of Economics at the University of Oxford;
- Mr Greg Medcraft, Chairman, Australian Securities and Investments Commission;
- Mr John Colvin, CEO, Australian Institute of Company Directors;
- Professor Seumas Miller, Professor of Philosophy, ANU;
- Mr John Morgan, Partner, AAR