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Creating Risk Capital: A Royalty Fund Solution to the Ownership and Financing of Enterprise by Ian Whalley

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7. Major Public Companies and Governance

The quest for perfection in systems of corporate governance is a hopeless one.

John Kay and Aubrey Silberston [1]

The Enron fiasco and accounting scandals at numerous other US corporations have exposed deep flaws in the system that had been held up as the model for all the world to follow.

Margaret Blair [2]

The reluctance to raise risk capital through the issue of further equity to external investors, for fear of an unsettling effect on ownership and control, is not confined to small and medium-size enterprises. It extends to larger enterprises, especially those under family control, and even to major public companies, which may ultimately face the threat of takeover. This may not be welcomed ...

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