During the past 15 years, Singapore businesses have adopted the concept of maximise shareholder value. This is implemented not only in the private sector, but in the government-linked companies also. This concept has led to salaries of top executives ballooning to several million dollars a year.
There are several flaws in this concept, as stated in this article. It is this concept that has led to the widening income gap in Singapore. Shareholder value is enhanced, when wages are depressed or profits are made at the expense of fair treatment of customers.
I hope that this flawed concept is changed soon.
Tan Kin Lian
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