THE CORPORATE OBJECTIVE
Book ID/图书代码： 04289511B50275
English Summary/英文概要： The Corporate Objective addresses a question that has been subject to much debate: what should be the objective of public corporations? It examines the two dominant theories that address this issue, the shareholder primacy and stakeholder theories, and finds that both have serious shortcomings. The book goes on to develop a new theory, called the Entity Maximisation and Sustainability Model. Under this model, directors are to endeavour to increase the overall long-run market value of the corporation as an entity. At the same time as maximising wealth, directors have to ensure that the corporation survives and is able to stay afloat and pursue the development of the corporation’s position. Andrew Keay seeks to explain and justify the model and discusses how the model is enforced, how investors fit into the model, how directors are to act and how profits are to be allocated. Analysing in depth the existing theories which seek to explain the corporate objective, this book will appeal to academics in corporate law and corporate governance as well as law, finance, business ethics, organisational behaviour, management, economics, accounting and sociology. Postgraduate students in corporate law and corporate governance, directors, and government regulators will also find much to interest them in this study.
Chinese Summary/中文概要： 《公司目标》综合梳理了这两种理论的主要论点，深刻分析了两种理论的严重缺陷。创新性地提出了一种理论——实体 化及永续性模式。这一新的模式认为，一方面，公司作为一个实体，公司董事应该致力于增加公司整体的长期市场价值，使公司财富 化；另一方面，公司董事还应该确保公司永续经营，保持和提升公司的地位。(AC)
Awards/获奖情况：’This is legal scholarship of the finest kind, concerned with an issue of supreme political, economic and social importance. Professor Keay takes the debate on the object of the modern public corporation by the scruff of its neck and skilfully navigates between the Scylla and Charybdis of the shareholder/stakeholder debate. This book, characterised by admirable analytical clarity and a huge amount of research, faithfully summarises the debate hitherto, and propels us to the next stage with a powerful argument, which challenges, effectively, both the stakeholder and shareholder theories.’---Harry Rajak, University of Sussex School of Law, UK
About the Author/作者介绍： 安德鲁·凯伊（Andrew Keay）英国利兹大学法学院教授，商法与实践中心主任。澳大利亚昆士兰大学法学院博士。英格兰与威尔士高级律师（Barrister）。曾在澳大利亚多家高校法学院任职，2002年到英国利兹大学任教，主要研究方向为公司（公司治理）与破产法。著述颇丰，近期主要代表作品包括《开明股东价值原则与公司治理》（2012）、《公司目标》（2011）、《董事责任》（2009）和《公司与个人破产法》（2003）。
Andrew Keay, Professor of Corporate and Commercial Law, Centre for Business Law and Practice, University of Leeds, UK
Format:HARDCOVER
Rights Status/版权销售情况：Simplified Chinese/简体中文：AVAILABLE(到期可授)
Complex/Traditional Chinese/繁体中文：AVAILABLE
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