Are US Companies Too Short-Term Oriented? Some Thoughts

Steven Kaplan ()

Innovation Policy and the Economy, 2018, vol. 18, issue 1, 107 - 124

Abstract: US companies are often criticized for being overly short-term oriented. This paper documents that those criticisms have a long history, going back at least 35 years. The paper then considers the implications of sustained short-termism for corporate profits, venture capital investments and returns, private equity investments and returns, and corporate valuations. The paper finds little long-term evidence that is consistent with the predictions of the short-term critics.

Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://dx.doi.org/10.1086/694409 (application/pdf)
http://dx.doi.org/10.1086/694409 (text/html)
Access to the online full text or PDF requires a subscription.

Related works:
Journal Article: Are U.S. Companies Too Short‐Term Oriented? Some Thoughts (2018)
Chapter: Are US Companies Too Short-Term Oriented? Some Thoughts (2017)
Working Paper: Are U.S. Companies Too Short-Term Oriented? Some Thoughts (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ucp:ipolec:doi:10.1086/694409

Access Statistics for this article

More articles in Innovation Policy and the Economy from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().