Creating value or extracting it? An existential question.
thoughtsparks.substack.com
A board and governance level issue that doesn’t get nearly enough attention is whether firms are being run as value creators or value extractors. As economist William Lazonick points out, absent real pushback, it is all too easy for management to simply extract value from companies – value that was built up patiently, sometimes over years, by innovators. This is very bad news for our society as we shall see.
Creating value or extracting it? An existential question.
Creating value or extracting it? An…
Creating value or extracting it? An existential question.
A board and governance level issue that doesn’t get nearly enough attention is whether firms are being run as value creators or value extractors. As economist William Lazonick points out, absent real pushback, it is all too easy for management to simply extract value from companies – value that was built up patiently, sometimes over years, by innovators. This is very bad news for our society as we shall see.