In particular, the professors point to the higher percentage of unprofitable companies - the kind that have hardly ever paid dividends.

Before 1980, rarely were more than 10 percent of companies unprofitable in any given year.

But a lot of the profits came on options from unprofitable companies.

Although Chinese leaders are now trying to sell many small, unprofitable state-owned companies, current policy is still to keep most large ones in Government hands.

Jobs chose to run a profitable company rather than an unprofitable company?

Buying unprofitable companies can dilute the value of shares in the acquiring company, he said.

A law forbids even unprofitable companies from laying off employees.

But highly valued unprofitable companies like Amazon.com stayed out.

But the percentage of unprofitable companies being brought public today is just as high as it was in 1999 and 2000.

Back then, unprofitable companies were known to make such brazen gestures.