Companies define what is development not the accountant so it is a choice. Re shareholder out performance. I am fairly sure that this HBS study didn't adjust for the distortion of Google etc. Moreover, I didn't say they all did badly, more that some companies with big stakes have blown up so its not a safety blanket. Parmalat, Enron, Satyam, ABC etc.
WTC Price at posting:
$23.40 Sentiment: Sell Disclosure: Not Held
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