“Shareholder primacy” has long been at the center of corporate governance. The August 2019 Business Roundtable (BRT) statement suggested a different corporate purpose, framed in terms of the need to deliver value to all stakeholders and to drive sustainable growth. On October 30, 2019, the Richman Center held a panel discussion on the BRT statement. In this video, 1 of 2, panelists discuss the legal consquences of the BRT statement and the question of mass prosperity.
Jeffrey N. Gordon (Richard Paul Richman Professor of Law at Columbia Law School; Co-Director of the Richard Paul Richman Center for Business, Law, and Public Policy) and Edward Rock (Martin Lipton Professor of Law at NYU; Director of the Institute for Corporate Governance and Finance), moderated by Wei Jiang (Arthur F. Burns Professor of Free and Competitive Enterprise, Columbia Business School).
Find out more about the Richman Center: https://www8.gsb.columbia.edu/richman/