Top CEOs Release Statement Declaring End of Shareholder Primacy, Saying Corps Must Bring Value to All Stakeholders
Washington Post
statement itself
Global Reporting Initiative
1997
Dodge v. Ford Motor Co.
,
Milton Friedman
fiduciary duty
interpreted
there is no legal statute
eBay Domestic Holdings Inc. v. Newmark
It is currently unknown, then, whether these CEOs putting their money where their mouth is will serve to provoke shareholder ire and draw litigation in response. If so, these firms may be helped by recent research finding that sustainable business practices are linked with higher profitability.