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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 (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 November 2020

The Customer Corporation

The Customer Corporation

(p.122) 14 The Customer Corporation
The Business of Economics

John Kay (Contributor Webpage)

Oxford University Press

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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