This page is a Work in Progress
My new book is available now: https://press.uchicago.edu/ucp/books/book/chicago/G/bo237122216.html
Examining shareholder primacy's flawed foundations and charting a path forward.
Today's corporate world revolves around maximizing share price, with businesses fixated on short-term profits for shareholders. Despite public criticism of this wealth-concentrating approach, it continues to dominate corporate governance. Good Company demonstrates why shareholder primacy fails as a model for understanding corporate function.
Corporations gain privileges through public charters, with an implied duty to benefit society through innovation. Yet this obligation is increasingly sidelined for buybacks and shareholder payments. Palladino envisions a reformed corporation that fulfills its social purpose while creating economic value, offering concrete policy recommendations. Good Company examines the firm's evolution and shows how policy can reshape corporate behavior for societal benefit.
The Myth that Shareholders are Always Investors
Roosevelt Institute Working Paper (2024)
The Need for Corporate Guardrails in U.S. Industrial Policy
Seattle Law Review (2024)
Establishing a public option for asset management in the United States
Review of Social Economy (2023)