Missing the Target

Roe argues convincingly why pressure on companies to earn short-term profits isn’t causing the harm critics say it is… . And that matters for public policy, lawmakers and the dominant narrative in how America’s corporations are run. There are plenty of problems, but they need different fixes… . [A] must-read for anyone interested in markets and policy…. * James Mackintosh, Streetwise, Wall Street Journal *
The idea that short-termism is a problem is so widespread that few people dare to question it. Mark Roe is one of these people. Armed with rigorous evidence and real-life examples, this eye-opening book will change the way you think about short-termism. It has profound implications for companies, investors, policymakers - and the general public’s view on the rights and wrongs of capitalism. * Alex Edmans, Professor of Finance, London Business School*
In a world of misguided certainties, the view that stock market driven pressure to perform on a quarterly basis drives managements to be damagingly short-term focused is one of the most pernicious. This book is an essential corrective for serious investors, business managers, government policy makers and thoughtful citizens. It is also an invaluable example of careful analysis in the face of overwhelming accepted but false conventional wisdom. * Bruce Greenwald, Columbia Business School*
It’s so popular to beat up on short termism in the corporate world. But Mark Roe uses rigorous logic and a wealth of data to debunk many of the arguments used by its critics.“-Robert C Pozen, Senior Lecturer, MIT Sloan School of Management, Formerly President of Fidelity Investments

Mark J. Roe is the David Berg Professor of Corporate Law at Harvard Law School. His research focuses on corporate structures and how they relate to politics, interest groups, and popular opinions of the corporation.

This item is eligible for free returns within 30 days of delivery. See our returns policy for further details.