▁econom ies . ▁This ▁began ▁during ▁his ▁time ▁at ▁Harvard ▁in ▁the ▁ 1 9 8 0 ' s , ▁where ▁he ▁took ▁note ▁of ▁his ▁colle ague ▁Michael ▁C . ▁J ensen , ▁who ▁became ▁a ▁major ▁pro ponent ▁of ▁mass ▁stock ▁buy back s . ▁Since ▁then , ▁L azon ick ▁has ▁public ly ▁advoc ated ▁against ▁such ▁buy back s ▁through ▁various ▁research ▁papers ▁and ▁articles , ▁becoming ▁a ▁major ▁voice ▁regarding ▁the ▁matter . ▁ ▁L azon ick ▁began ▁this ▁line ▁of ▁research ▁in ▁the ▁late ▁ 1 9 8 0 s , ▁becoming ▁an ▁early ▁critic ▁of ▁the ▁belief ▁that ▁companies ▁should ▁be ▁run ▁to ▁maxim ize ▁share holder ▁value . ▁In ▁collaboration ▁with ▁Mary ▁O ' S ull ivan , ▁he ▁continued ▁this ▁work ▁in ▁the ▁ 1 9 9 0 s ▁at ▁S TE P ▁Group , ▁a ▁research ▁organization ▁directed ▁by ▁Keith ▁Smith ▁in ▁Os lo , ▁Norway , ▁and ▁in ▁the ▁last ▁half ▁of ▁the ▁ 1 9 9 0 s ▁and ▁early ▁ 2 0 0 0 s ▁at ▁IN SE AD , ▁where ▁he ▁directed ▁the ▁European ▁Commission ▁project ▁Corpor ate ▁Govern ance , ▁In nov ation , ▁and ▁Econom ic ▁Performance . ▁ ▁One ▁such ▁article , ▁" In nov ative ▁Business ▁Mod els ▁and ▁Vari eties ▁of ▁Capital ism : ▁Fin an cial ization ▁of ▁the ▁U . S . ▁Corporation ," ▁that ▁comp ares ▁the ▁United ▁States ▁and ▁Japan , ▁L azon ick ▁ar ug es ▁that ▁the ▁pers