From the course: Finance Foundations
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Introducing securities markets
- You already told us that you are on the Board of Directors of a publicly traded company. - I was, we took the company private last year. - Okay so, who chooses the directors of a publicly traded company? - Typically, candidates are identified by company management and the existing board members. The final decision is made by the shareholders of the company, and they vote as to whether to approve a candidate for the board or not. - So where were the shares of your company traded? - We were traded on NASDAQ, the second largest stock market in the world after the New York Stock Exchange. - So did the Board of Directors ever discuss your company's stock price? - [Jim] Absolutely, because we represented the shareholders of the company, we had a fiduciary duty to direct the company in ways that will maximize shareholder value. - [Kay] Now how about you? Did you personally own any shares in the company? - [Jim] Yes, I did. - So how did you feel as you saw the stock price fluctuate up and…
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