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Early on, corporate reports were rather meager communiqués, intended for company internal distribution only. They tended to consist of little more than a letter to stockholders signed by the Chief Executive Officer, a balance sheet, and an auditor's stat

Reference: 
p. 96
Citation Text: 

Early on, corporate reports were rather meager communiqués, intended for company internal distribution only. They tended to consist of little more than a letter to stockholders signed by the Chief Executive Officer, a balance sheet, and an auditor's statement. Several events at the end of the nineteenth and beginning of the twentieth centuries conspired favorably to transform such reports into a company's most important marketing and public relations piece.

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