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The Business of Economics$
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John Kay

Print publication date: 1996

Print ISBN-13: 9780198292227

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292228.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 23 August 2019

The Customer Corporation

The Customer Corporation

Chapter:
(p.122) 14 The Customer Corporation
Source:
The Business of Economics
Author(s):

John Kay (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198292228.003.0014

The stake‐holding view of the nature and purposes of corporations applies most forcefully to monopoly public utilities. This chapter analyses some of the problems of utility regulation and proposes a stake‐holding alternative. In this context, the purpose of a privatized utility should be to serve its customers, and its obligations to shareholders exist only to the extent necessary to ensure that the company can meet its primary purpose.

Keywords:   corporate governance, customers, monopoly, privatisation, public utilities, shareholders, stakeholders, utility regulation

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