Missing the Target: Why Stock-Market Short-Termism Is Not the Problem Mark J. Roe

Missing the Target: Why Stock-Market Short-Termism Is Not the Problem – Ebook Instant Download/Delivery ISBN(s): 9780197625620,0197625622

Product details:

• ISBN-10 ‏ : ‎ 0197625622
• ISBN-13 ‏ : ‎ 978-0197625620
• Author(s): Mark J. Roe, David Berg – Professor of Corporate Law, Mark J Roe

A data-driven argument for why stock-market short-termism is not causing severe damage to the American economy According to most media outlets and corporate lawmakers, stock-market-driven short-termism – when corporations appear to prioritize immediate results in the next quarter over long-term interests – is crippling the American economy. This popular view claims that short-termism is causing widespread declines in research and development (RandD) spending, harmful environmental policies, and degradation of the workplace. But the data does not support this black-and-white representation of short-termism. Mark J. Roe uses economy-wide data on RandD spending trends and corporate financial analysis to show that stock-market short-termism is not the root of all of America’s economic problems. The book shows that blaming short-termism overlooks the real causes of declining investment, RandD cutbacks, environmental deterioration, and workplace conflict. By pointing to other sources of tension like accelerating technology change, policy uncertainty, and an increasing sense of workplace insecurity, Missing the Target argues for a more nuanced understanding of the challenges to the American economy. Roe also disproves many of the core claims against short-termism by demonstrating that RandD spending is not in a complete decline. In fact, while government research spending may be down, corporate RandD expenditure is actually rising faster than the economy is growing. Missing the Target complicates the discussion of the American economy by explaining the many factors that contribute to current trends and by making a bold but straightforward claim: short-termism is not the problem.

Table contents:

Introduction
PART I: Looking for Stock-Market-Driven Short-Termism’s Impact on the Economy
1. The Short-Term Problem Perceived
2. Looking for the Economy-Wide Impact
3. The Social Costs of Stock-Market Short-Termism Understood, Clarified, and Defined
4. The Heavy Cost of Misdiagnosis: Missing the Targets
PART II: Analyzing the Stock Market’s Impact
5. Concept and Evidence for Stock-Market-Driven Short-Termism
6. Concept and Evidence Against It
7. Evaluating the Firm-by-Firm Short-Termism Evidence
PART III: The Proposed Solutions’ Limited Efficacy-And Their Costs
8. Cures and Their Sharp Limits: Insulating Executives from Financial Markets
9. Cures and Their Sharp Limits: Taxing and Regulating Financial Markets
PART IV: The Politics of the Corporate Short-Termism Controversy
10. Confusing Short-Termism with Accelerating Technological Change
11. Short-Termism as Popular Narrative: Connotation, Category Confusion, and Confirmation
12. Political Support at the Top of the Corporation: Executives vs. Shareholders
13. Political Support Outside the Corporation: Popular Opinion vs. Wall Street
Conclusion
Index

People also search:

missing the target meme

missing the target gif

sin missing the target

arrow missing the target

jokes about missing the target

picture of missing the target

quotes on missing the target

keep missing the target