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It's important to note, Professor Ruenzi said in an interview, that when managers increase or decrease a fund's risk because of their family rankings, they aren't acting out of concern for shareholder interests, or in response to real market conditions.
Should you ever want to cook the books at a major U.S. corporation, here's a good start: Express concern for shareholder value with furrowed brow, be bold when fudging the numbers and, most importantly, be oblique.
Trouble can brew when concern for shareholder value affects the underlying product.
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That would be a concern for shareholders.
Their failure is a public concern, not just a concern for shareholders," he added.
Seven months later, out of concern for shareholders, the company redeemed the securities.
Digging deeper into the data, Mr. Fenn identified specific areas of concern for shareholders.
Although further financial pain for News Corp will be unwelcome, reputational damage will be a major concern for shareholders.
"The concern is that he is going to run the company without concern for shareholders and there was nothing here to placate that".
The collapse of Enron and WorldCom revealed serious structural problems: too much power for imperial executives, too few independent directors, too little concern for shareholders' rights.
The rulings may ease concern for shareholders of the brokerage, which lost almost half its market value after Mr. Spitzer, now governor, started his bid-rigging investigation in 2004.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com