Speculative Management: Stock Market Power and Corporate Change

In this timely work, Dan Krier examines the relationship between two phenomena that dominated the economic scene in the late twentieth century: the rising power of financial markets and the restructuring of American industry. He argues that corporate governance was transformed during this period into speculative teams of stock-optioned executives and activist owners. These teams encouraged a vigorous restructuring of American industry through corporate buyouts, takeovers, reengineering, and down…