Which of the following was a reason for the decline of the shareholder view of management?
a. The relaxation of antitrust restrictions on mergers and acquisitions in the 1980s led to higher prices of raw materials.
b. The singular focus on shareholder value resulted in a lack of investment in new products and an erosion in quality standards.
c. Lack of attention to financial targets resulted in firms' assets and cash getting devalued in comparison to their stock prices.
d. The external and internal environments of firms were no longer complex, and this resulted in heavy investment in research and development.
Answer: B