SHAREHOLDER

WEALTH
MAXIMIZATION AND
SOCIAL WELFARE: A
UTILITARIAN CRITIQUE
A. STRUCTURE

• What is the
intension of the
study?
 NORMATIVE
SWM STAKEHOLDER
THEORY
How does the author
outline the intension?
Re-examine SWM to
scrutinize

Undertake an extensive
four stage analysis

Offers broad outline of a

superior corporate
objective- a variant of
Normative stakeholder
theory.
THEORY USED:

NORMATIVE
STAKEHOLDER
THEORY
B. AWARENESS
OF CURRENT
DEBATE
What existing debate
in the field study
addressing?
 STAKEHOLDER’S
INTEREST

VS

SHAREHOLDER’S
INTEREST
C. METHODOLOGY
AND RESULTS
Asses the
appropriateness of
the methodology
used?
 BOOKS AND
RELIABLE STUDIES

ECONOMISTS
WHAT ARE THE RESULTS?
SWM
SOCIAL
WELFARE
How do the results correlate
with the theory used?
 SWM
Normative
Stakeholde
r Theory
SOCIAL
WELFARE
D. ORIGINALITY
What is the unique and valuable
contribution of the study to the body of
knowledge?
Normative
Stakeholder
theory is a
BETTER proxy
to SWM
What are the finance or
management application of
findings?
What areas of further research
does it suggest?
Provide more information and evidences
about Normative Stakeholder Theory
F. CLARITY AND
READABILITY
Assess the adequacy of
attention on grammar,
sentence structure, and
explanation of jargon or
Acronyms.