Managerial myopia or systemic short‐termism?

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Marching to the Beat of Different Drummers: The Influence of Institutional Owners on Competitive Actions (2010, background): “Holding a firm’s shares over a long period of time facilitates the development of trust between dedicated investors and executives of their portfolio firms (Laverty, 2004).”
Minding the Gap (2016, background): “Laverty (2004) calls this a “temporal trap,” because it exchanges short-term profitability for requisite long-term positioning, growth, and change.”