Bhide invites us to consider the “proper” roles of firm owners and managers. Since managers are hired to run the firm, should owners be expected to watch closely and second guess? Are managers really childish or nefarious? Should ownership be a “job” restricted to those who are “worthy?”
Take a position, and defend it: which is more important, corporate governance or market liquidity? (If you say they are both important, your essay is a zero.)
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