There is strong support across academics that maximizing ‪‎shareholder‬ value provides a problematic basis for the practice, theory, and regulation of corporate governance.

The Modern Corporation project seeks your support for a number of disciplinary memos on maximizing shareholder value and the effects of contemporary corporate governance theory more broadly.
The members of the modern corporation project, hosted by Cardiff Business School and Frank Bold, a public interest law firm, have recently organised a conference with 120 attendees in Brussels. This conference combined the voices of senior academics with diverse disciplinary backgrounds with those of businesspeople, politicians, journalists, trade unionists and NGOs in order to provide viable alternatives to MSV and corporate governance (see
To support the conference, leading academics prepared memos on the relation of their disciplinary fields to the topic of Maximizing Shareholder Value. These memos have been endorsed by a very wide selection of international academics. The full list of signatories can be found at the bottom of the memos.
We continue to seek academic support for these memos, because they will help to support a broad discussion on the current state of corporate governance theory, practice, and regulation, and because we hope that the formation of a wide academic coalition can help to provide cross-disciplinary alternatives to the outcomes of current corporate governance theory.
Therefore, we would like to ask you to support the memos.
The management memo can be found at
The politics memo can be found at
The company law memo can be found at
The accounting memo can be found at
The website provides a simple form where you can endorse the document. If you have comments or questions, you can contact me directly at
You can also follow our activities on:

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