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Why Do Corporations Exist?

Autor Jang-Sup Shin
en Limba Engleză Paperback – 6 aug 2026
Corporations are the engine of the modern economy, yet public debates are ideologically polarized between two extremes-shareholder value theory and stakeholder theory-and the real workings of corporations and their contributions to society are obscured. This book attempts to break the shackles of these two ideologies. It starts from the 'Two Corporate Axioms' that any reasonably well-informed person should accept, i.e., the dominance of corporations and the existence of market competition. It then derives the 'Eight Corporate Theorems' as logical extensions of the axioms and, based on these theorems, re-examines major issues surrounding corporations, including their purpose and governance. To make this construct more realistic, the book weaves the theorems into the story of an imaginary AI company, starting as a venture company and expanding eventually into a multi-planetary enterprise. This book concludes by offering a vision of the corporation as a long-term community for co-prosperity.
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Specificații

ISBN-13: 9781009856539
ISBN-10: 1009856537
Pagini: 114
Greutate: 0.18 kg
Editura: Cambridge University Press

Cuprins

1. Introduction; 2. The birth of new owners of companies; 3. The Ontological foundation and purpose of the corporation; 4. The teleology of the corporation; 5. The control of the corporation; 6. The correspondence between rights and responsibilities; 7. Building the community of long-term co-prosperity; 8. Conclusions.