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Opinion: Why America’s CEOs have turned against shareholders

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By capturing the process to which they owe their own positions, American CEOs have made a mockery of shareholder control Katharina Pistor is Professor of Comparative Law at Columbia Law School and the author of The Code of Capital: How the Law Creates Wealth and Inequality . The Business Roundtable, an association of the most powerful chief executive officers in the United States, announced this month that the era of shareholder primacy is over...

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