Is There a Discipline That Comes From Being a Public Company?

There is a certain discipline that comes from being a public company. Most companies have adopted a quarterly conference call format, where you can ask questions of management. And i'm a relatively small investor in start up. I do it because o occasionally make a good investment. It helps me see the future in terms of what potential threats are coming That might disrupt either a business we own or a business weare looking at. But there are real benefits that come from the disclosure and a the input that shareholders can bring toa kind of public enterprise....