1919
- Michigan Supreme Court ruled, in Dodge vs. Ford Motor Co., in favor of
shareholder primacy, that "A business corporation is organized and
carried on primarily for the benefit of the stockholders. The powers of
the directors are to be employed for that end." Henry Ford and company
directors had decided not to pay a dividend, despite substantial
retained earnings, substantial profits in the particular year, so that
the money could be spent on plant expansion, Ford industrial system
could be expanded for the general benefit of society. Court ruled that
reason was not directed at the profit of the company, not a basis for
refusing to pay a dividend.
Harold Bierman, Jr. (2001). Increasing Shareholder Value:
Distribution Policy, a Corporate Finance Challenge. (Boston, MA:
Kluwer Academic Publishers, p.). Corporate profits; Income distribution;
Investments--Valuation; Corporations--Finance; Stockholders.
Andrew Black, Philip Wright, John E. Bachman; with John Davies
(2000).
In Search of Shareholder Value: Managing the Drivers of
Performance. (New York, NY: Financial Times/Prentice Hall, 302 p.
[2nd ed.]).
Corporations -- Valuation; Corporations -- Investor relations;
Investment analysis; Corporate governance.
Eleanor Bloxham (2003).
Economic Value Management: Applications
and Techniques. (Hoboken, NJ: Wiley, 342 p.). President (Corporate
Governance Alliance). Economic value added--Management.
Peter J. Clark and Stephen Neill (2001).
The Value Mandate:
Maximizing Shareholder Value Across the Corporation. (New York,
NY: AMACOM, 330 p.). Corporate profits; Investments--Valuation;
Corporations--Finance.
Al Ehrbar (1998).
EVA: The Real Key To Creating Wealth. (New
York, NY: Wiley, 234 p.). Senior Vice President, Stern Stewart & Co.
Economic value added. Author presents revealing case histories of EVA
success stories - Briggs &Stratton, the US Postal Service, and
Coca-Cola, (from mediocrity to the number one wealth creator in the
world with the addition of EVA).
William E. Fruhan, Jr. (1979).
Financial Strategy: Studies in
the Creation, Transfer, and Destruction of Shareholder Value.
(Homewood, IL: R.D. Irwin, 301 p.). Professor of Finance (Harvard
Business School). Corporations--Valuation--United States;
Stocks--Prices--United States; Corporate profits--United States; Stock
transfer--United States.
James L. Grant (2003).
Foundations of Economic Value Added.
(Hoboken, NJ: Wiley, 324 p. [2nd ed.]). Economic value added;
Corporations--Valuation; Capital productivity; Profit; Investment
analysis.
Allan A. Kennedy (2000).
The End of Shareholder Value:
Corporations at the Crossroads. (Cambridge, MA: Perseus Pub., 237
p.). Corporations--United States--Finance; Corporations--United
States--Finance--Case studies; Stockholders--United States; Chief
executive officers--United States; Chief financial officers--United
States; Industrial management--United States--History; Corporate
culture--United States--History.
Raymond L. Manganelli and Brian W. Hagen (2003).
Solving the
Corporate Value Enigma: A System To Unlock Shareholder Value. (New
York, NY: American Management Association, 238 p.).
Corporations--Valuation; Corporations--Growth;
Corporations--Accounting; Strategic planning; Corporate profits.
James M. McTaggart, Peter W. Kontes, Michael C. Mankins (1994).
The Value Imperative: Managing for Superior Shareholder Returns.
(New York, NY: Free Press, 367 p.). Chairman, President, Vice
President of Marakon Associates. Corporations -- Valuation;
Corporations -- Finance.
Geoffrey A. Moore (2002).
Living on the Fault Line: Managing for
Shareholder Value in Any Economy. (New York, NY: HarperBusiness,
277 p. [rev. ed.]). Industrial management; Stocks--Prices;
Competition.
Roger A. Morin, Sherry L. Jarrell (2001).
Driving Shareholder
Value: Value-Building Techniques for Creating Shareholder Wealth.
(New York, NY: McGraw-Hill, 399 p.). Corporations--Valuation;
Industrial management; Economic value added; Corporate profits;
Corporations--Growth; Stocks--Prices; Stockholders.
Alfred Rappaport (1988).
Creating Shareholder Value: A Guide for
Managers and Investors. (New York, NY: Free Press, 205 p. [rev.
and updated]. Professor of Accounting (Northwestern University).
Corporations--Valuation; Stocks--Prices; Corporate profits;
Investments--Accounting.
Mark C. Scott (1998).
Value Drivers: The Manager's Framework for Identifying the Drivers of
Corporate Value Creation. (New York, NY: Wiley, 261 p.).
Corporations--Valuation; Corporate profits.
Adrian J. Slywotzky (1996).
Value Migration: How to Think
Several Moves Ahead of the Competition. (Boston, MA: Harvard
Business School Press, 327 p.). Corporations--Valuation.
Roy C. Smith and Ingo Walter (1997).
Street Smarts: Linking
Professional Conduct with Shareholder Value in the Securities Industry.
(Boston, MA: Harvard Business School Press, 351 p.). Securities
industry -- United States.
Joel M. Stern and John S. Shiely, with Irwin Ross (2001).
The
Eva Challenge: Implementing Value-Added Change in an Organization.
(New York, NY: Wiley, 250 p.). Economic Value Added
G. Bennett Stewart III (1991).
The Quest for Value: A Guide for
Senior Managers. (New York, NY: HarperBusiness, 781 p.).
Corporations--Valuation; Cash flow.
S. David Young and Stephen F. O'Byrne (2001).
EVA and Value
Based Management: A Practical Guide to Implementation. (New York,
NY: McGraw-Hill, 493 p.). Economic value added;
Corporations--Valuation; Capital investments--Decision making;
Managerial economics; Industrial management.
________________________________________________
Berkshire Hathaway Inc.: Shareholder Letters
http://berkshirehathaway.com/letters/letters.html
This site contains CEO Warren Buffett's annual letters to the
shareholders of the Berkshire Hathaway company, going back to 1977.
These letters are considered essential reading by investors and
frequently assigned as homework for business school students. Not
searchable. Subjects: Buffett, Warren | Finance, Personal |
Capitalists and financiers | Investments.
