Short-termism: The Problem of Managerial Turnover

Thomas Palley

Chapter 7 in Financialization, 2013, pp 112-125 from Palgrave Macmillan

Abstract: Abstract In his now famous testimony before the House Committee on Oversight and Government Reform on October 23, 2008, former Federal Reserve Chairman Alan Greenspan stunned observers by declaring: As I wrote last March, those of us who have looked to the self-interest of lending institutions to protect shareholders equity, myself especially, are in a state of shocked disbelief (p.11)

Keywords: Risk Aversion; Collateralized Debt Obligation; Managerial Turnover; Project Return; Maturity Mismatch (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-26582-1_7

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DOI: 10.1057/9781137265821_7

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