Confusion, Tunneling, And Looting
Posted in Main Blog (All Posts) on March 6th, 2009 5:32 am by HL
Confusion, Tunneling, And Looting
Emerging market crises are marked by an increase in tunneling – i.e., borderline legal/illegal smuggling of value out of businesses. As time horizons become shorter, employees have less incentive to protect shareholder value and are more inclined to help out…