later introduced to their students are not traceable. Apart from these, Clayton also illustrated the principle agent theory in managing free capitalism. He argued that about 40% of the stock in the free market is executed by hedge fund, and 55% by mutual fund or pension fund, which means 95% of the stock is hold by people who are expected to keep these stock in less than one year.
In my opinion, I agree with Clayton’s opinion. If we always following the right rule to do things, we will naturally form…
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