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The parent never implies that it is. However, at the end of the day large corporations need to keep shareholders pleased to survive. They could lie all they wa
by colemannugent 9y ago
The parent never implies that it is.
However, at the end of the day large corporations need to keep shareholders pleased to survive. They could lie all they want to themselves, but the shareholders would see through that and remove the bad administrators.
China has no such mechanism to ensure accountability.
- beat 9y agoI'd argue there have been plenty of examples of large corporations delivering rosy figures, until they could no longer sustain the lie. Some years ago, I got an investment club to put some of our money in Harley-Davidson, based on numbers that hit our criteria perfectly. Too perfectly. A few months later, the CEO resigned, revised numbers came out, it became clear they'd been more or less cooking the books, and the stock tanked. This happens a lot. Worse, it happens with stock market darlings. Remember Enron?
- carapace 9y agoThe Mandate of Heaven? https://en.wikipedia.org/wiki/Mandate_of_Heaven https://en.wikipedia.org/wiki/Mandate_of_Heaven