一、从股东利益至上到利益相关者管理20世纪80年代末美国以宾夕法尼亚州为代表的29个州公司法的变革,要求经理不仅为股东服务,还要为利益相关者服务。从90年代初开始,“股东利益至上”理论正式受到了利益相关者理论的强烈挑战。企业是一系列契约关系的连接点,是由各个利益相关 First, from the interests of shareholders to the supremacy of stakeholders Management in the United States in the late 1980s, the State of Pennsylvania as the representative of 29 states company law changes, requiring managers not only for shareholders, but also for the benefit of stakeholders. Since the early 1990s, the theory of “supreme benefit of shareholders” has been formally challenged by the stakeholder theory. An enterprise is a connection point of a series of contractual relationships and is related to various interests.