Found 2 article(s) for author 'Managerial Myopia'

Speaking of the short-term: disclosure horizon and managerial myopia

Speaking of the short-term: disclosure horizon and managerial myopia. George Serafeim, March 12, 2015, Paper. “We study conference calls as a voluntary disclosure channel and create a proxy for the time horizon that senior executives emphasize in their communications. We find that our measure of disclosure time horizon is associated with capital market pressures and executives’ short-term monetary incentives. Consistent with the language emphasized during conference calls partially capturing short-termism, we show that our proxy is associated with earnings and...” Link

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The Long-Term Effects of Hedge Fund Activism

The Long-Term Effects of Hedge Fund Activism. Lucian Bebchuk, July 9, 2013, Paper. “We test the empirical validity of a claim that has been playing a central role in debates on corporate governance – the claim that interventions by activist shareholders, and in particular activist hedge funds, have an adverse effect on the long-term interests of companies and their shareholders. While this “myopic activists” claim has been regularly invoked and has had considerable influence, its supporters have thus far failed to back it up with evidence…” Link verified June 19, 2014

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