Finance and Short-termism
Short-Termism and Capital Flows
... tricky. Finance economists wishing to measure cash flows from shareholders to firms via equity issuances often limit their attention to the amount of cash that firms directly receive from equity issuances, and try ...
37
Maturity rationing and collective short-termism
... Keywords: short-termism, asset maturity, credit rationing, asymmetric information, cross- firm externality ∗ For helpful comments, we thank two anonymous referees, Viral Acharya, Heitor Almeida, Malcolm ...
51
Corporate Short-Termism and Intertemporal Choice
... Inc., 457 A.2d 701, 712–13 (Del. 1983). Recently, the Delaware Supreme Court has signaled a preference for market-based valuation techniques, such as analyses of market prices and market multiples, over the DCF analysis ...
64
Short-termism, ownership and implications for investor stewardship
... Abstract: Institutional investors play a central role in corporate finance and ownership. But their direct role in corporate governance has received only limited attention, focused mainly on shareholder activism, ...
17
Addressing Corporate Short-Termism Through Loyalty Shares
... historically, states granted authority to public and private corporations to undertake spe- cific activities, and how even private corporations “existed largely to serve a public good”). 3. See Kent Greenfield, Ultra ...
27
Social Housing: The causes and consequences of short termism for outsourced maintenance
... It delivers its services on a “Hub and spokes basis” via four geographical regional locations and is flexible to its market in the delivery and pricing of its business proposition. Although delivering services nationally ...
271
Making the Numbers? "Short Termism” & the Puzzle of Only Occasional Disaster
... the finance and accounting literatures finds that managers do sacrifice (at least some) long-term investments in response to pressure from the capital ...on short-term results actually detract from overall ...
38
Making the Numbers? “Short Termism” and the Puzzle of Only Occasional Disaster
... the finance and accounting literatures finds that managers do sacrifice (at least some) long-term investments in response to pressure from the capital ...on short-term results actually detract from overall ...
48
Wrong-Termism, Right-Termism, and the Liability Structure of Investor Time Horizons
... A BSTRACT Do investor time horizons lead to inefficient business conduct in the real economy? An extensive finance literature analyzes whether particular practices (e.g., high frequency trading and stock buybacks) ...
35
Corporate Law and Economic Stagnation: How Shareholder value and Short-termism Contribute to the Decline of the Western Economics
... the finance constraint and move beyond the expansion frontier, because it is implicitly assumed by Post-Keynesians to be an orientation towards the delivery of short-term ...that short- termist ...
386
Beyond Short-Termism: Effective Regulatory and Financial Industry Reform for Sustainable Long-Term Investment in Publicly Listed Companies
... too short to meaningfully assess long-term ...of short-term initiatives than longer-term ones, even if the latter are likely to produce higher net value in the long-run’ because ‘the search for ‘alpha’ by ...
271
Short-Termism and Long-Termism
... engineer short termism completely out of the picture, irrespec- tive of whether it serves an important role in counterbalancing managerial long ...whether short termism and long termism ...
67
The Causes and Consequences of Corporate Short-Termism
... and short-term oriented investors for limiting their ability to manage their companies in a long- term ...over-value short-term payoffs, and others attesting that markets favour long-term value but are ...
226
Tracing the connections: short-termism, training and recession
... of short-termism, unrelated to the actual or perceived preferences of financiers as expressed in stock market ...produce short-term results that serve their own interests at the expense of decisions ...
20
The Effect of Managerial Short Termism on Corporate Investment*
... We provide evidence that executives with more short‐term incentives engage in myopic behavior by reducing real investment. We document this effect by exploiting a unique event in 2005, in which more than 700 firms ...
52
Performance Measures and Short-Termism: An Exploratory Study
... of short-termism. This supports a definition of short-termism that appears to provide valuable research potential; but the measure relating to a long-term orientation requires further ...
52
Does earnings guidance contribute to investor short-termism?
... investor short- termism – excessive focus on a firm’s short term performance and insufficient consideration of its long-term value creation ...on short-term (long-term) earnings of quarterly ...
92
Short Termism and the Threat Posed by an Absence of Clear Thinking
... [email protected]. Short-termism – and the Threat Posed by an Absence of Clear Thinking In September this year, Palgrave Macmillan published our book Customer Value, Shareholder Wealth, Community ...
7
The paradox of transparency, short-termism and the institutionalisation of Australian capital markets
... Table 2, Panel B indicates that with moderate slack and with a high presence of institutional investors, directors have no choice but to act with a short-term focus favouring the institutional investors, ...
39
Long-Term Executive Compensation as a Remedy for Corporate Short-Termism
... too short-sighted compared to shareholders’ time horizons) tend to underinvest in valuable long-term projects, one would indeed expect a shift towards more long-term investments (such as innovation and stakeholder ...
6