DWD20200413

David's Time With Peter F. Drucker 2020.4.13 The development began in the United States. As a result, institutions representing the future pensioners now own at least 40 percent of all American publicly listed corporations, and probably more than 60 percent of the big ones. They similarly own British business. And they are beginning to be the owners of business in all other developed countries, Germany, France, Japan and so on. And with that shift in property, we are seeing a shift in power. This underlies the persent debate about the Governance of Corporations, which is basically a debate concerning for whose benefit businesses should be run. It underlies the dramatic shift to the predominance of the “shareholder interest.” And a similar debate is beginning to emerge in all other developed countries. ——《Management Challenges for the 21st Century · Chapter2》(Peter F.Drucker,1999)