CEOs Love Share Buybacks for the Most Obvious Reason in The World
BlackRock CEO Larry Fink wrote to the chief executives of all the S&P 500 companies in April asking them to lay off on stock buybacks and dividend payouts, he ignited a debate about shareholder value. Now, it's easy to point to activist investors as the villains who force boards to return cash to shareholders at the risk of damaging companies' long-term development. But activists are not the only ones pushing for heightened returns...
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