摘要:Based on the progressive public referentiality of Private Law, the paper proposes the retelling of enterprise phenomenon in a larger context, through theory of stakeholders. This theory considers the doctrine of creation of value to the shareholders as a myth. It is concluded that enterprise should not be recognized as a mere instrument for the satisfaction of exclusive maximization interests of rational agents, but rather as the expression of an institution, whose conduct cannot be raised from a market logic only, but also from the concept of creating share value for all stakeholders.