"If I were Euromoney editor, I would beat up on institutional
investors for the insanity they've been creating," says Allan
Kennedy. He has written a book, The end of shareholder value, about
the embracing of this ethic and its adverse aVect on business
practices. Kennedy has seen the "insanity" spread at close
quarters. He held a top position with McKinsey.
Arguing that "something destructive is happening" to companies,
Kennedy sounds familiar warnings about managers focusing on raising
the share price...
