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Open AccessJournal Article

Leading for value

Brian Pitman
- 01 Jan 2003 - 
- Vol. 81, Iss: 4, pp 41-46
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TLDR
A CEO-led transformation of the company's culture is described in this paper, where the authors show that from 1983 to 2001, British bank Lloyds TSB increased its market capitalization 40-fold by shedding assets and narrowing its focus.
Abstract
From 1983 to 2001, British bank Lloyds TSB increased its market capitalization 40-fold, in part by shedding assets and narrowing its focus. But something else was at work: a CEO-led transformation of the company's culture.

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