by Melissa Tan for The Strait Times
A panel discussion about corporate governance yesterday morning was so heated even the fire alarm went off.
While the latter turned out to be a false alarm, there was plenty of fire in the debate itself, with lawyers locking horns with asset managers and finance experts over whether listed companies should purely aim to maximise returns for shareholders or account for other factors, such as the environment.
One side, led by Professor Lynn Stout of Cornell University Law School in the United States, held that corporations should consider other stakeholders’ interests and should not let themselves be held hostage by investors who may want share prices to rise in the short term at the expense of the long run. Read more here.