公司管理与产权.pptx

;;;Why should exchange of corporate property rights be permitted only under restricted conditions,whereas exchanges of noncorporate rights are not equally regulated?;Another argument for compulsory disclosure :;;;;;Ⅰ. Managers who select the innovative uses are those who bear or should bear consequent value effects.;Creating profits for owners ≠ Share those profits;Reasons: Market valuation ignored in misinterpretation of the role of profits It is ignored also in the contention that the modern stockholder’s wealth is less well protected in the dispersed than in the concentrated ow