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The
author argues that despite the faster
growth of US economy since 1992 and the
new legitimacy of the stock market and
the corporate model, there is no warrant
for revising a 1992 blue-ribbon group's
conclusion that the US stock market-based
corporate model was misallocating resources
and jeopardising US competitiveness. Secondly,
even US corporations, let alone developing
country ones, would be better off not
having stock market valuation as a corporate
goal.
January 09, 2006. |
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