A Critical Look at the Evidence for Short-Termism. Discusses the UK’s low investment and the McKinsey study on the benefits of long-termism. From my response to the Green Paper on Industrial Strategy.
Is Short Termism Really a Problem? Talk at the American Finance Association 2021 annual meeting.
Critique of European Commission’s Study on Sustainable Corporate Governance on the alleged drivers of short-termism.
CEOs Cut Investment to Sell Their Own Shares at High Prices.
The Answer to Short-Termism Isn’t Asking Investors to Be Patient. Why the praise of “patient capital” is misguided (Harvard Business Review)
Share Options: The Law of Unintended ConsequencesEconomist article on same topic.
Against Disclosure. How forcing companies to disclose more can encourage them to be short-termist. New York Times article.