Faculty News

Prof. Richard Sylla discusses corporate morality and his paper on the shareholder vs. stakeholder model, co-authored with Prof. Ralph Gomory

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Excerpt from Wealthtrack -- "In the seventies, [American corporations] had a lot of competition. Globalization was a factor in making corporations, for the first time in some decades, have a lot of international competition. And they suffered a little bit from that. And I think then, as they were suffering, academics said, oh, the corporations really need to do a better job and the way to do it is, picking up on Milton Friedman, they should focus on maximizing shareholder value. They shouldn't do all these other things. They shouldn't think about the workers that much, or the suppliers or the community. Just maximize profits. And this was an academic thing. I'm an academic. I saw it happen."

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