Download This PaperWhat is Stock Market Short-Termism?
29 Pages Posted: 23 Aug 2022 Last revised: 9 Sep 2022
Date Written: August 16, 2022
Abstract
What precisely is stock market short-termism? For an issue that pervades corporate governance thinking, rhetoric, and policymaking, one would think that we know well what it is. But much that’s called stock market short-termism is not properly categorized as such. This distinction—between true stock-market short-termism and false short-termism—is the focus of this article.
Keywords: Short-termism, quarterly capitalism, hedge funds, shareholder activism, R&D, capex, investment, buybacks
JEL Classification: D72, E71, G18, G34, G38, G41, K22, L21
Suggested Citation: Suggested Citation
Mark J. Roe (Contact Author)
Harvard Law School ( email )
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European Corporate Governance Institute (ECGI)
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