CHAPTER THIRTY-ONE
The Governance of Corporations
FIFTEEN YEARS AFTER IT was first chronicled, the “unseen revolution” has transformed corporate ownership in the United States and is now visible to all. The 20 largest pension funds (13 of them funds of state, municipal, or nonprofit employees) hold around one-tenth of the equity capital of America’s publicly owned companies. All told, institutional investors—that is, primarily pension funds—control close to 40 percent of the common stock of the country’s large (and many midsize) businesses. The largest and fastest-growing funds, those of public employees, are no longer content to be passive investors. ...
Get Peter F. Drucker on Practical Leadership now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
