Maximisation of Shareholder’s Value and The Theory of Innovative Enterprise: A Case Study Comparison of Two Automotive Enterprises

Twenty years ago, American-style shareholder capitalism, with its focus on maximising shareholders’ value (MSV), was widening its lead (in terms of economic growth) over European-style stakeholder capitalism. Nevertheless, the U.S. economy runs large trade deficits, inequality in income and wealth has risen, and there is a growing disappointment...