Companies do not have an obligation to maximize long-term shareholder value:https://www.washingtonpost.com/news/wonk/wp/2013/09/09/how-the-cult-of-shareholder-value-wrecked-american-business/ …
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@patrickc have you read Maverick by Ricardo Semler? - 2 more replies
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@patrickc true, but time scale of returns and negative externalities aren't included in value calculation often enoughThanks. Twitter will use this to make your timeline better. UndoUndo
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@patrickc Confusion stems from time horizon: local maxima in shareholder v. can be detrimental long term. Global maximum has to be the aimThanks. Twitter will use this to make your timeline better. UndoUndo
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@patrickc the smartest papers I've read on this are from@mjmauboussin. Highly recommend. http://www.leggmason.com/pdf/about/Mauboussin_value.pdf … https://hbr.org/2011/10/ceos-must-understand-what-crea/ …Thanks. Twitter will use this to make your timeline better. UndoUndo
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@patrickc "[WaPo article] provides an excuse to avoid tougher policy challenges, such as advocating for stronger externality regulation"Thanks. Twitter will use this to make your timeline better. UndoUndo
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@patrickc Patrick, travis@uber.com https://medium.com/@aihammer/travis-uber-com-27effe0f4336#.bvl6y4xek …Thanks. Twitter will use this to make your timeline better. UndoUndo
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