Does shareholder myopia lead to managerial myopia? A first look

Cherian Samuel

Applied Financial Economics, 2000, vol. 10, issue 5, 493-505

Abstract: Shareholder myopia may not necessarily lead to managerial myopia. To the extent that managerial myopia is a problem for some firms, the reasons for this must be sought elsewhere. While institutional ownership has a positive effect on capital expenditures, it appears to have a negative effect on R&D expenditures and no effect on advertising expenditures. The results in this paper also call into question the viewpoint that faults the short-term orientation of financial markets as contributing to long-term competitiveness problems of economies.

Date: 2000
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DOI: 10.1080/096031000416370

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