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Below is a quote from a book I’m reading. If anybody can tell me wtf it means please comment below:
Thus, it is altogether clear that a corporate governance framework that is not consistent with the social and economic requirement of non-listed companies will yield imperfections over time and would not achieve the legal strategies to control agency problems and reduce transaction costs.
- McCahery & Vermeulen, Corporate Governance of Non-Listed Companies (OUP, 2008)