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" ... being the managers rather of other people's money than of their own, it cannot well be expected, that they should watch over it with the same anxious vigilance with which the partners in a private copartnery frequently watch over their own. "
Encyclopaedia Britannica; Or A Dictionary of Arts, Sciences, and ... - Page 334
1823
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The Cambridge Handbook of Psychology and Economic Behaviour

Alan Lewis - 2012
...be as vigilant as if it was their own, concluding that: 'Negligence and profusion, therefore, must prevail, more or less, in the management of the affairs of such a company.' Berle and Means (1932) later considered the modern corporation and the weakening of control by shareholders...
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