The investment bank embraced the maximisation of shareholder value when it went public in 1999.
Drop the fancy acronyms, and the maximisation of shareholder value is a blinding flash of the obvious.
This is a shift from 20th century production centered economics of profit maximisation toward 21st century people-centered local economies.
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Many retailers in Germany are owned by wealthy families whose business priorities are not always the maximisation of shareholder value.
So profit maximisation does have to be tempered by a knowledge of what the consumers will think fair or unfair.
For the purposes of understanding how society copes with the consequences of those decisions, the assumption of rational utility-maximisation works just fine.
In such a stakeholder economy the primary goal, it is said, is not the maximisation of short-term profits for the benefit of the shareholders.
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But that is the fault of other disciplines for not coming up with ideas to rival, for example, agency theory or the maximisation of shareholder value.
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"In fact its motivation is to support not people but a political objective - the maximisation of the movement of people to undermine national identities, " he argued.
If an investment manager must, by law, consider only the maximisation of the financial returns to investors then he is, by that same law, forbidden from considering other matters.
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This would surely weaken the finances of Shinsei, which has been trying to introduce the alien concept of profit maximisation into Japanese banking, and could scare off other foreign investors.
Most importantly, the advent of the blockbuster drugs on which Big Pharma relies also ushered in an era in which the focus shifted to profit-maximisation through heavy marketing, sometimes at the expense of scientific inquiry.
Although for developers like Urban Splash or the Environment Trust, or similar private, trust or charity based organisations, there is the scope to listen to residents, for most large developers, their overriding concern is to their shareholders whose interests (profit maximisation) are opposite to those of local residents (community focus, low energy-cost housing, etc.).
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