The World’s Dumbest Idea
GMO,
2014
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Recommendation
Since the 1990s, maximizing shareholder value has been a major mission of company executives in the United States and abroad. However, investment specialist James Montier says that upholding this ideal is little more than a smokescreen for propping up executive compensation. In fact, Montier claims that stock buybacks and other actions designed to enhance shareholder value produce tangible benefits only for those with substantial equity-based rewards. getAbstract recommends his witty, engaging and research-based “tirade” on shareholder value to executives, board directors and others responsible for assuring good corporate governance.
Take-Aways
About the Author
The author of several books, James Montier is currently part of GMO’s asset allocation team.
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