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Experts say many aspects of business culture have been compromised because of the availability of an abundance of capital, and a push to grow at any cost. "Valuations have taken precedence over values," says Shriram Subramanian, who heads an independent corporate governance research and advisory firm. He believes ethics, business processes and culture are all deemed secondary to hyper-growth, and this attitude is often encouraged by private equity players. "Even if they don't actively encourage it, they don't condemn such behaviour."
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