The devastating effects of overblown short-termism and profit maximization are increasingly recognized as key issues for our societies at large and their importance and urgency is felt by all stakeholders. There is a fundamental issue though – most commentators and experts would strongly agree on the diagnosis, but nobody has yet come up with a viable alternative model that would be broadly accepted.   The agency theory (as conceived by Jensen and Mecking) that spawned the shareholder value model conveys the illusion of a scientific type of approach; it provides a fact based analytical model to make rational investment decisions into corporations with clear indicators providing the basis for current and future performance assessment. It […]