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MANAGING FOR SHAREHOLDER VALUE AT BANK OF AMERICA
Author(s) -
Coulter David
Publication year - 1997
Publication title -
journal of applied corporate finance
Language(s) - English
Resource type - Journals
eISSN - 1745-6622
pISSN - 1078-1196
DOI - 10.1111/j.1745-6622.1997.tb00136.x
Subject(s) - shareholder value , shareholder , business , stock (firearms) , finance , profit (economics) , value (mathematics) , accounting , financial system , economics , corporate governance , engineering , mechanical engineering , machine learning , computer science , microeconomics
In this brief and informal speech to senior executives representing a group of the bank's largest corporate clients, Bank of America's CEO and Chairman describes the bank's mission and the “necessary conditions” for achieving it. Besides mentioning a number of recent initiatives aimed at improving quality of service—including an extensive employee stock option plan—he also comments on the role of the bank's stock repurchase program in its overall attempt to maximize “economic profit” and shareholder value.