In finance theory investors expectation should influence all managerial decisions. This theory follows the legal doctrine that firms should be managed in the interests of their owners. It also recognize the economic idea that, if inventors needs are satisfied after all other claims on the firm are settled, then the firm must be "healthy" The inventors view also confronts the reality of capital-market discipline: the best defense against a hostile takeover (or other type of intrusion) is a high stock price. The attention of capital-market discipline has done more in the 1980s and 1990s to rivet the attention of management on value creation than any academic theories.