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3 Account. Econ. Law 1 (2013)

handle is hein.journals/acteol3 and id is 1 raw text is: doi 10.1515/ael-2013-0005 - AEL: A Convivium 2013; 3(1): 1-14 Book Review Symposium on Shareholder Value Myth by Lynn Stout Faith Stevelman* Myths about Shareholder Value Abstract: The concept of unitary shareholder value and its reflection in near- term stock prices formed the centrepiece of contemporary corporate governance up to the 2008 financial crisis. The crisis has elicited both more critical and clearer, book-length accounts of the relationship of law, corporate governance and finance. The concepts analysed in Lynn Stout's The Shareholder Value Myth are considered herein, as part of a commentary on the continuing evolution of academic corporate law and governance. Keywords: financial crisis, corporate law, governance *Corresponding author: Faith Stevelman, New York Law School, New York, NY, USA, E-mail: stevelmn@uw.edu List of symposium papers 1 New Thinking on Shareholder Primacy by Lynn Stout DOI 10.1515/2152-2820.1037 2 Myths about Shareholder Value by Faith Stevelman DOI 10.1515/ael-2013-0005 3 Deconstructing the Mythodology of Shareholder Value: A Comment on Lynn Stout's The Shareholder Value Myth by Thomas Clarke DOI 10.1515/ael-2013-0006 4 The Shareholder Model of the Corporation, Between Mythology and Reality by Olivier Weinstein DOI 10.1515/ael-2013-0032 5 The Troubling Question of Corporate Purpose by Lynn Stout DOI 10.1515/ael-2013-0042 Who could possibly be against shareholder value? I cannot imagine many hands going up. Well, how about shareholder value-ism - the notion that enhancing shareholder value, as measured by near-term stock prices, should be the signal goal and yardstick for effective board and executive performance? Professor Lynn Stout, of Cornell Law School, scrutinizes this construct, under the rubric of the shareholder value myth in her eponymous new book. As Stout's title suggests, you should find this view of corporate purpose DE GRUYTER

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