"The proponents of shareholder value and stock-based executive - TopicsExpress

"The proponents of shareholder value and stock-based executive compensation hoped that their theories would focus executives on improving the real performance of their companies and thus increasing shareholder value over time. Yet, precisely the opposite occurred. In the period of shareholder capitalism since 1976, executive compensation has exploded while corporate performance declined. Maximizing shareholder value thus turned out to be the disease of which it purported to be the cure."

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