Managers in Accounting and Finance fields

Review the following two articles (plus other credible sources), Jensen, M.C. (2010) ‘Value maximization, stakeholder theory, and the corporate objective function’. Journal of Applied Corporate Finance, 22 (1), pp. 32-42. Letza, S., Sun, X. & Kirkbride, J. (2004) ‘Shareholding versus stakeholding: a critical review of corporate governance’. Corporate Governance, 12 (3), pp. 242-262. and prepare an integrated response that will address the following question: What do you believe is an appropriate objective for a manager in the Accounting and Finance fields? In responding to this question, consider the following: 1. What are the challenges that managers face in efforts to be ‘socially responsible’? 2. How might a self-serving manager exploit social responsibility for his or her own personal gain? 3. Do budgeting processes plus strategic management accounting tools encourage a shareholder- or stakeholder-centric focus? 4. What mechanisms might help to bind managers’ interests to those of shareholders’ or stakeholders’? 5. Does a positive NPV equate to a project that adds value to the typical stakeholder? 6. Draw upon examples of existing or recommended practice from the organisation that you researched for your Finance and Accounting for Managers Module Project, plus from your professional background, as well as trends experienced globally and as discussed in the articles. Give a report of 850 words using Harvard referencing.

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