The number of public companies in the US has shrunk by about 34% since its peak in 1996, suggesting their role in the global financial system is diminishing, JPMorgan CEO Jamie Dimon said today (April 4).
In his annual letter to shareholders, Dimon said the number of US public companies “should have grown substantially over the past decade,” but instead fell. At the same time, private companies are proliferating in the US, a trend that Dimon says is “worthy of serious study.”
“It’s incumbent upon us to figure out why so many companies and so much capital are being moved out of transparent public markets to less transparent private markets,” he added.
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Originally published on Quartz : Original article