Shareholders’ Value: Wot, no Char?

  • Keron Bhattacharya


The stark from this analysis is that in more than half the cases a large chunk of profit simply disappeared. In some cases the Results were even gloomier. For every dollar invested, the shareholders, instead of making money, actually lost more than a dollar. And these companies were not just small, fly by night ones. They were among the world’s best.


Stock Exchange Share Price Large Shareholder Dividend Policy Large Chunk 
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Notes and References

  1. 1.
    Should shareholders wait for the management to push the share up?: T. Boone Pickens Jr, “Professions of a short-term”, Harvard Business Review (May-June 1986).Google Scholar
  2. 2.
    Undervalued retailers in the New York Stock Exchange: William E. Fruhan Jr, “Corporate raiders: head’em off at value gap”, Harvard Businees Review (July-August 1988).Google Scholar
  3. 3.
    Value gap: William E. Fruhan Jr, “How fast should your company grow?”, Harvard Businees Review (January-February 1984).Google Scholar
  4. 5.
    The Japanese buying into the British car market: Keron Bhattacharya, “Why BL’s future should be decided now” The Times (London) (23 November 1984).Google Scholar
  5. 6.
    Ford’s acquiring Jaguar: Andrew Lorenz, “Jaguar: the ice man cometh” Sunday Times (12 May 1991).Google Scholar
  6. 7.
    Profit on Argos — the BAT story: Nick Bunker, “Keeping BAT’s two cores”, Financial Times (27 September 1989).Google Scholar
  7. 10.
    Cost of capital: Myron J. Gordon and Eli Shapiro, “Capital equipment analysis: required rate of profit” Management Science (October 1956).Google Scholar
  8. 11.
    The impact of retained profit: Ben C Ball Jr, “The mysterious disappearance of retained earnings”, Harvard Business Review (July-August 1987).Google Scholar
  9. 12a.
    Improving shareholder’s return: Alfred Rappaport, “Selecting strategies that create shareholders’ value” Harvard Business Review (May–June 1981) Google Scholar
  10. 12b.
    Enrique R. Azrac, “Do your business units create shareholder value?”,Harvard Business Review (January–February 1986) Google Scholar
  11. 12c.
    Alfred Rappaport, Creating Shareholders’ Value (New York: The Free Press, 1986) Google Scholar
  12. 12d.
    David L. Wenner and Richard W. Leber, “Managing for shareholder value: from top to bottom” Harvard Business Review (November–December 1989) Google Scholar
  13. 12e.
    Keron Bhattacharya, “Balance sheet optics: the shareholders’ friend”, Accountancy (November 1983).Google Scholar

Copyright information

© Keron Bhattacharya 1992

Authors and Affiliations

  • Keron Bhattacharya
    • 1
  1. 1.Seer GreenUK

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