Book contents
- The Profit Motive
- The Profit Motive
- Copyright page
- Dedication
- Contents
- Acknowledgments
- Editorial Note
- Introduction
- Part I The Law
- 1 The Battle of River Rouge
- 2 Fireplug Funding for Princeton
- 3 Why Didn’t the Cubs Have to Play Night Baseball?
- 4 Defending Dodge
- 5 To Make Stakeholder Capitalism the Rule, You Would Have to Change Most of Corporate Law
- 6 What about the Benefit Corporation?
- Part II The Merits
- Conclusion
- Notes
- Index
2 - Fireplug Funding for Princeton
from Part I - The Law
Published online by Cambridge University Press: 02 February 2023
Book contents
- The Profit Motive
- The Profit Motive
- Copyright page
- Dedication
- Contents
- Acknowledgments
- Editorial Note
- Introduction
- Part I The Law
- 1 The Battle of River Rouge
- 2 Fireplug Funding for Princeton
- 3 Why Didn’t the Cubs Have to Play Night Baseball?
- 4 Defending Dodge
- 5 To Make Stakeholder Capitalism the Rule, You Would Have to Change Most of Corporate Law
- 6 What about the Benefit Corporation?
- Part II The Merits
- Conclusion
- Notes
- Index
Summary
AP Smith Mfg. Co. v. Barlow is the seminal case on the fiduciary duties of corporate directors with respect to profit maximization and corporate philanthropy. The chapter provides the factual context of the case and analyzes the law. The chapter situates the case in the famous debate between Adolf Berle and E. Merrick Dodd over shareholder value maximization. It provides context for the business communitys approach to shareholder capitalism.
- Type
- Chapter
- Information
- The Profit MotiveDefending Shareholder Value Maximization, pp. 37 - 45Publisher: Cambridge University PressPrint publication year: 2023