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Bakou Mertens
bakoumertens.bsky.social
did:plc:t4x22wsubpxmpkdmunuinh65
My first paper has a volume number!!
crux: "heads, shareholders win, tails, society loses"
shareholders do not share in the costs of negative profit shocks. This ratchets up payout ratio persistently over the ensuing years.
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2025-01-27T08:24:17.453Z