They have tended to pursue the current conception of shareholder value, thus prompting companies to do the same. The result is a new form of financial competition of all against all: every listed firm must compete as an investment in the capital markets to meet the same standard of financial performance (Froud et al., 2006). Roberts et al. (2006), (p. 282) illustrate this power relationship:
“Movements of the share-price, press comment, and in particular analyst's commentaries and recommendations serve… as a constant reminder for executives that distant others are observing and making sense of their actions, and forming the view of the company as an investment.