Rethinking the ontology of the shareholder model of the corporation

Kakabadse, N. K. ORCID: https://orcid.org/0000-0002-9517-8279, Kakabadse, A. ORCID: https://orcid.org/0000-0002-0031-7767, Kouzmin, A. and Pesqueux, Y. (2013) Rethinking the ontology of the shareholder model of the corporation. Society and Business Review, 8 (1). pp. 55-70. ISSN 1746-5680 doi: 10.1108/17465681311297711

Abstract/Summary

Purpose – The purpose of this paper is to examine the critical assumptions lying behind the Anglo American model of corporate governance. Design/methodology/approach – Literature review examining the concept of a nexus of contracts underpinning agency theory which, it is argued, act as the platform for neo-liberal corporate governance focusing on shareholder wealth creation. Findings – The paper highlights the unaddressed critical challenge of why eighteenth century ownership structures are readily adopted in the twenty-first century. Social implications – A re-examination of wealth creation and wealth redistribution. Originality/value – The paper is highly original due to the fact that few contributions have been made in the area of rethinking shareholder value.