Rethinking the ontology of the shareholder model of the corporation

Abstract

Purpose

The purpose of this paper is to examine the critical assumptions lying behind the Anglo American model of corporate governance.

Design/methodology/approach

Literature review examining the concept of a nexus of contracts underpinning agency theory which, it is argued, act as the platform for neo‐liberal corporate governance focusing on shareholder wealth creation.

Findings

The paper highlights the unaddressed critical challenge of why eighteenth century ownership structures are readily adopted in the twenty‐first century.

Social implications

A re‐examination of wealth creation and wealth redistribution.

Originality/value

The paper is highly original due to the fact that few contributions have been made in the area of rethinking shareholder value.

Citation

Kakabadse, N.K., Kakabadse, A., Kouzmin, A. and Pesqueux, Y. (2013), "Rethinking the ontology of the shareholder model of the corporation", Society and Business Review, Vol. 8 No. 1, pp. 55-70. https://doi.org/10.1108/17465681311297711