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Definition: Corporate Purpose is the main objective(s) that is (are) being pursued by a commercial organization, as typically listed in its articles of incorporation or memorandum of association. It is the reason for having incorporated. A typical element of CP is to maximize long-term profits for the shareholders of the firm (shareholder value perspective). |
More on corporate governance: Agency Problem, Belief System, Board of Directors, Boundary System, CEO Duality, more... |
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