Berrett-Koehler Book Chosen as One of Five Most Impactful Stories in 2012 by The Media Consortium
Book Causes National Debate on Shareholder Primacy Doctrine
From Steve Piersanti's speech at The Media Consortium Annual Meeting in Baltimore, February 2013
“Whose Company Is It? A controversial new book has rekindled the debate over shareholder value and the purpose of the public corporation.” That’s the headline of a feature article in the November 15, 2012, issue of Chief Financial Officer Magazine. The article focuses on Berrett-Koehler’s new book, The Shareholder Value Myth, by Lynn Stout, and includes contrasting views of the book by corporate financial leaders. Here's a link: http://tinyurl.com/bxpj62u
This book has indeed launched a national debate about the cornerstone of today’s dominant business doctrine that shareholders’ interests must be placed above the interests of all other stakeholders of the corporation.
As an article on the Money page of US News and World Report states, "Ideas have consequences, we all know, but some have more consequence than others. If ever the business world generated a consequential idea, surely it's the notion of ‘shareholder value.’” The article then includes a hard-hitting interview with Lynn Stout knocking down this foundational business doctrine.
And this debate is reaching all spectrums of society. The Shareholder Value Myth has twice received major coverage in The New York Times: http://nyti.ms/LCOK8N
It has similarly been covered multiple times in the Los Angeles Times, such as this article: http://tinyurl.com/a6pbae7
It has received major coverage from many progressive media, such as Alternet and Utne Reader, as well as from numerous radio and television shows.
But what is most surprising is that it is also stirring up debate in conservative bastions, such as being featured multiple times in Forbes; here’s one example:
All told, The Shareholder Value Myth has already received over 60 media hits. It is truly a book that has sparked a conversation.