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Management article
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Reference no. 86311
Published by: Harvard Business Publishing
Published in: "Harvard Business Review", 1986

Abstract

Many CEOs like to portray themselves as long-term visionaries and their dissident shareholders as short-term opportunists. These executives apparently believe that achieving value for shareholders within a reasonable time is incompatible with pursuing future growth. This short- term theory is pure hokum. Recent studies reveal no evidence that good long-term planning depresses current stock prices or increases vulnerability to takeovers.

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Abstract

Many CEOs like to portray themselves as long-term visionaries and their dissident shareholders as short-term opportunists. These executives apparently believe that achieving value for shareholders within a reasonable time is incompatible with pursuing future growth. This short- term theory is pure hokum. Recent studies reveal no evidence that good long-term planning depresses current stock prices or increases vulnerability to takeovers.

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