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In a time of climate change, racial and economic inequality, and crisis stemming from the global pandemic, corporations are alternately maligned for their conduct and embraced as a solution for change. Observers have increasingly excoriated the traditional view of corporate purpose-that corporations should be managed for the benefit of shareholders and, specifically, to maximize shareholder wealth-as contributing to societal problems. 1 Spurred by this debate, and only two decades after prominent scholars announced" the end of history" in favor of shareholder primacy, 2 luminaries in the field are again asking these central questions of corporate law: For whom is the corporation managed? Do fiduciaries owe a duty to maximize shareholder value or may they prioritize the interests of other stakeholders?

We contribute to this important debate by enlarging the aperture. Specifically, we provide an original …