Value Maximization and Welfare

Corporate governance and market value maximization are crucial topics. Lecture content on these themes can be challenging to perceive, especially in extended durations. Despite the complexity, a mathematically proficient audience can grasp the concepts effectively. One key idea discussed is the discrepancy between maximizing shareholder value and maximizing societal welfare. The consensus was that focusing solely on shareholder value does not necessarily lead to the overall welfare optimization.

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