. Several scholars have challenged this primacy and argue
that the stakeholder model is generally in agreement with the principle of fairness, which
highlights the importance of including in corporate governance all stakeholders that might be
harmed by the actions or the inactions of the corporation. As a result the primacy of
shareholder wealth maximisation has been constantly challenged.Requirement
In light of the above developments. You are required to write an essay contrasting the SWM
primacy with stake holder theories (objectives) explaining why SWM was deemed superior
but it is currently being challenged. Your essay should explore how corporate governance
shapes corporate objectives .The essay should make use of studies that support and critique
both the SWM primacy and stakeholder. Provide your own recommendations on how you
think corporate objectives should be set out.
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