This project has examined the extent of adoption of shareholder value management in large, quoted, UK companies, and specifically, the impact this has had on human resource management. Shareholder wealth maximisation inherent in capital markets, has resulted in the finance ethos being promulgated within the firm. The need and ability to push shareholder value maximisation techniques and culture deep into the firm is part of most consultancy firms’ promises. The Finance function, in this new, more aggressive form, is claiming areas of responsibility once the preserve of the management accountant. Performance metrics, previously based on accounting logic, now have to be subjected to the critical test of consistency with the objective of shareholder wealth creation. Organisational arrangements such as degree of concentration, allocation of responsibilities, control processes, and reward systems, must pass the same test. Potentially the entire organisational architecture needs to be overhauled. (PDF 65KB)