A Comparison of Managers’ Perception of Short-Termism in Finland, Sweden and the U.S

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dc.contributor.author Liljeblom, Eva
dc.contributor.author Vaihekoski, Mika
dc.date.accessioned 2010-12-31T09:51:24Z fi
dc.date.accessioned 2011-03-02T09:32:54Z
dc.date.available 2010-12-31T09:51:24Z fi
dc.date.available 2011-03-02T09:32:54Z
dc.date.issued 2010-12-31
dc.identifier.citation International Journal of Production Economics, 2009, Vol 117, pp. 427-438 fi
dc.identifier.uri http://hdl.handle.net/10227/776
dc.description.abstract Increased media exposure to layoffs and corporate quarterly financial reporting have created arguable a common perception – especially favored by the media itself – that the companies have been forced to improve their financial performance from quarter to quarter. Academically the relevant question is whether companies themselves feel that they are exposed to short-term pressure to perform even if it means that they have to compromise company’s long-term future. This paper studies this issue using results from a survey conducted among the 500 largest companies in Finland. The results show that companies in general feel moderate short-term pressure, with reasonable dispersion across firms. There seems to be a link between the degree of pressure felt, and the firm’s ownership structure, i.e. we find support for the existence of short-term versus long-term owners. We also find significant ownership related differences, in line with expectations, in how such short-term pressure is reflected in actual decision variables such as the investment criteria used. fi
dc.language.iso en
dc.publisher Elsevier en
dc.subject impatience fi
dc.subject short-termism fi
dc.subject investment fi
dc.subject compensation fi
dc.subject share repurchases fi
dc.subject ownership fi
dc.subject Finland fi
dc.subject.other Finance fi
dc.title A Comparison of Managers’ Perception of Short-Termism in Finland, Sweden and the U.S fi
dc.relation.version Personal final accepted version

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