Missing the Target - Why Stock-Market Short-Termism Is Not the Problem (Hardcover)

Why stock-market short-termism is not causing severe damage to the American economy According to many political leaders, pundits, and corporate lawmakers, stock-market-driven short-termism - when corporations prioritize immediate results in the next quarter over their longer-term interests - is harming the American economy. This view, popular in influential circles, sees short-termism as causing sharply declining research and development (R&D), too many stock buybacks, and severe environmental harm. But the data fits badly with this black-and-white representation of short-termism. Mark J. Roe analyzes the best data on R&D, corporate borrowings and buybacks, and long-term investment trends to show that stock market short-termism is not at the root of these economic problems. The book shows that blaming short-termism overlooks the real causes of declining investment, R&D changes, and environmental deterioration. By pointing to other sources of tension like accelerating technological change, rising political uncertainty, and repeated economic disruptions, Missing the Target argues for a more nuanced understanding of the challenges to the American economy. Roe disproves many of the core claims against short termism. R&D spending, for example, is rising faster than the economy is growing. Its government R&D support that's been falling. Reversing that decline is the best first target for bettering American R&D. Missing the Target deepens the discussion of the American economy by analyzing the factors that contribute to current trends and by making a bold but straightforward claim: stock market short-termism is not the problem.

General

Imprint:	Oxford UniversityPress
Country of origin:	United States
Release date:	July 2022
Authors:	Mark J. Roe (David Berg Professor of Corporate Law)
Dimensions:	242 x 162 x 18mm (L x W x T)
Format:	Hardcover
Pages:	200
ISBN-13:	978-0-19-762562-0
Categories:	Books > Business & Economics > Business & management > General Books > Business & Economics > Economics > International economics > General Books > Business & Economics > Finance & accounting > Accounting > Financial reporting, financial statements Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > General
LSN:	0-19-762562-2
Barcode:	9780197625620

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