No, they don't. That myth cannot die fast enough. https://insight.kellogg.northwestern.edu/article/shareholder-value-purpose-corporation https://insight.kellog

No, they don't. That myth cannot die fast enough. https://insight.kellogg.northwestern.edu/article/shareholder-value-purpose-corporation https://insight.kellogg.northwestern.edu/article/shareholder... > There are a lot of misconceptions about maximizing shareholder value, even among economists. But talk to a legal scholar or a corporate lawyer: a CEO or board is not legally obliged to maximize shareholder value. They need to maximize the value of the corporation and act in its best interest. Only when there is a change in legal control, such as a merger or imminent hostile takeover, do they have to maximize shareholder value.