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Overcoming Short-termism: A Call for A More Responsible Approach to Investment and Business Management
The President and Fellows of Harvard College Link to more items from this source
[Opinion]
Sept. 13, 2009

This post on The Harvard Law School Forum on Corporate Governance and Financial Regulation is a statement by the Aspen Institute Business & Society Program's Corporate Values Strategy Group, of which John Olson is a signatory, along with 27 other business, investment, academic, & labor leaders. Excerpt: We believe a healthy society requires healthy and responsible companies that effectively pursue long-term goals. Yet in recent years, boards, managers, shareholders with varying agendas, and regulators, all, to one degree or another, have allowed short-term considerations to overwhelm the desirable long-term growth and sustainable profit objectives of the corporation. We believe that short-term objectives have eroded faith in corporations continuing to be the foundation of the American free enterprise system, which has been, in turn, the foundation of our economy. Restoring that faith critically requires restoring a longterm focus for boards, managers, and most particularly, shareholders -- if not voluntarily, then by appropriate regulation.  MORE >>

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