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When one man dominates a company: The problem with Mark Zuckerberg types

The US new-issues market is the de facto standard setter for the rest of the world. Undemocratic voting structures are an unwelcome export

Topics
Financial Markets  |  Stock Market  |  Google

Chris Hughes | Bloomberg 

It irks investors in America, and now it’s irking them in Europe too. The U. S. stock market’s permissive attitude to initial public offerings that give founders super-voting rights is the subject of an international campaign. Rightly so.

The U. S. new-issues market is the de facto standard setter for the rest of the world. Undemocratic voting structures are an unwelcome export. The “one-share, one-vote” principle is fair and gives outsiders some sway to hold management to account. True, Google parent Alphabet Inc.’s stock has thrived with dual-class ...

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First Published: Mon, December 10 2018. 14:07 IST
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