Maybe all that short-term thinking hasn’t really hurt companies long term

Akio Morita et al, alleged that the short-term thinking of U.S. companies would be their downfall, writes columnist Noah Smith, Bloomberg News. He mentions research by Alxander Ljungqvist, NYU and affiliated to IFN: Prof. Kaplan [...] ignores micro evidence on the short-termism question. For example, a 2014 paper by John Asker, Joan Farre-Mensa and Alexander Ljungqvist found that “compared to private firms, public firms invest substantially less and are less responsive to changes in investment opportunities.”