Week 3 Discussion topic
“The agenda — shaped over many conversations Mr. Dimon had had with his friend, Mr. Buffett — was to discuss the sorry state of publicly traded companies: too little trust and connection between shareholders and management, too many rules imposed by so-called governance experts and too many idiosyncratic accounting guidelines. As a result, much of the smart money in the United States is going — and staying — private, creating more companies that have less public accountability and transparency.”
After reading the Andrews article assigned for this week, what solutions would you propose to improve the “sorry state of publicly traded companies”?
Please address each of the three concerns voiced in the article:
1) too little trust and connection between shareholders and management;
2) too many rules; and
3) idiosyncratic accounting guidelines.
Please also address the following question: do you think that the topic of “Purpose” comes into play in corporate governance issues in publicly traded companies? For example, do you think that a lack of professional purpose by shareholders and management has led to the “sorry state of publicly traded companies”? How have you developed your professional purpose at this point in your career? Do you plan to change your professional purpose in the next 5-10 years?
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