It has been argued that shareholder wealth maximization is not a realistic normative goal for the firm,

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It has been argued that shareholder wealth maximization is not a realistic normative goal for the firm, given the social responsibility activities that the firm is “expected” to engage in (such as contributing to the arts, education, etc.). Explain why these social responsibility activities are not inconsistent with shareholder wealth maximization.

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Contemporary Financial Management

ISBN: 978-1337090582

14th edition

Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao

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