Lynn A. Stout, a professor of law at the University of California Los Angeles School of Law argues that shareholder primacy thinking is mistaken. But Charles Elson, who is the Edgar S. Woolard Jr. chair in corporate governance and director of the John L. Weinberg Center for Corporate Governance at the University of Delaware and also serves as a director of HealthSouth Corp., says failure to put shareholders’ interests first would drive away investors and capital.
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