Purpose of a Company in 21st Century: Comparative Analysis of Legal Aspects

Abstract

Master Thesis identifies the characteristics of companies that distinguish them from other forms of human associations, describes the essence and historical development of the company’s purpose concept, specifies the most appropriate model of corporate governance in the 21st century due to the modern environmental, social and economic challenges through comparative analysis of legal aspects. The research determines short-termism as a result of maximizing shareholder value and its impact on the social well-being of societies, identifies corporate social responsibility as an alternative to shareholder primacy and a necessary prerequisite for achieving sustainable development.