As Mr Sirower notes, lawsuits and the press punish other value-destroying corporate decisions.
But the world's Friedmanites have waged a relentless guerrilla war against the idea, denouncing it as a farrago of value-destroying nonsense.
The equity bubble in 1998-2001 may have been in some part responsible for the large number of value-destroying mergers at that time.
Naturally, our fellows caved in and agreed to this value-destroying deal.
CEOs expanded their empires, funded value-destroying pet projects and ignored shareholders.
"Some value-destroying firms and even banks, themselves, can and should fail through the process of improving financial market transparency and liquidity, " he said in a presentation last month.
Similarly, private-equity firms took on too much debt during the credit bubble, when it was available on absurdly generous terms, and are now having to make value-destroying cuts at many of the companies in their portfolios as a result.
Focusing on short-term shareholder value ended up destroying vast quantities of long-term shareholder value.
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Ms. MINOW: It's when they get paid that kind of money by - for destroying shareholder value, it's an outrage, it's appalling.
The volume of Bitcoin-denominated commerce would plummet, destroying its value as a currency.
The London-based company has lost more than a third of its stock-market value since April 20, when one of its gulf wells blew out, destroying the Deepwater Horizon drilling rig, killing 11 men and triggering the worst offshore oil spill in U.S. history.
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