# Professor Alexander Ljungqvist's joint research on corporate investment is highlighted

1 Faculty News July 17, 2017 ![Forbes logo](/sites/default/files/styles/246w/public/assets/images/con_030508.jpg?itok=SId6k3bx)>

Excerpt from [Forbes](https://www.forbes.com/sites/stevedenning/2017/07/17/making-sense-of-shareholder-value-the-worlds-dumbest-idea/#4cdbdfd72a7e) -- "Financial resources are being diverted from needed investments in innovation. A brilliant study by economists from the Stern School of Business and Harvard Business School, compares the investment patterns of public companies and privately-held firms. They found that, keeping company size and industry constant, private US companies invest nearly twice as much as those listed on the stock market: 7% of total assets versus just 4%."

[Read more](https://www.forbes.com/sites/stevedenning/2017/07/17/making-sense-of-shareholder-value-the-worlds-dumbest-idea/#4cdbdfd72a7e)