Churchill's horses and the myths of American corporations : power, stakeholders, and governance

Introduction: Our Underachieving Corporations Control Corporations Are Nothing More or Less Than Their People Public Corporations Are Just Private Corporations with Many Owners The Owners of a Public Corporation Control It by Electing Its Directors The First Concern of Public Corporation Management Is Shareholder Value Shareholders Corporations Maximize Shareholder Value by Maximizing Current Profit Corporate Profit Is the Best Measure of Real Shareholder Value Corporate Profit Is Owned by the Shareholders Who Own the Corporation Corporations Exist to Maximize Shareholder Value Customers Corporations Engage in Marketing to Satisfy Their Customers' Needs Corporations Invest in Brands to Increase Customer Value Corporations Are Required by Supply & Demand to Charge Their Lowest Prices Corporations Innovate to Satisfy Their Customer's Needs Managers Corporate Management Is Entrepreneurial Corporate Management Is Strategic Professional Managers Can Run Any Corporate Business Corporate Management Is Strong Because It's Team Management CEOs In Public Corporations the CEO Is Controlled by Independent Directors CEOs Are Paid What They Are Worth CEO Compensation Is Linked to Corporate Performance CEOs Devote Full Time to Managing Their Corporation Workers Public Corporations Are Proficient at Motivating Their Workers Corporations Stay Competitive in a Global Economy by Downsizing Corporations Have to Lay Off Workers When Business Is Bad Raising Productivity Benefits Workers by Raising What They Earn Capitalists Wall Street's Primary Function Is Raising Money for Public Corporations Investment Bankers Serve the Interests of Clients and Investors Simultaneously The Market Is a Level Trading Field for Public Investors Wall Street's Influence on Public Corporations Is Beneficial Afterword: We Are All Consumers, We Are All Workers Table of Anti-Myths Notes on Sources Selected Bibliography Index