Shareholder Value Bites the Hand That Feeds It

Shareholder primacy has many victims, including employees, the environment and the communities where corporations operate. Surprisingly, it harms its intended beneficiaries, shareholders, as well, according to a number of studies.By contrast, studies show that sustainable management -- which explicitly takes environment, social and governance (ESG) factors into account -- benefits shareholders, as well as other stakeholders, by improving companies' profitability and stock market price.In other words, doing the right thing is not only good for the world but also good for the wallets of corporate owners and investors