Project on Short-Termism

The Short-Termism Project, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education with respect to short-termism.

Research studies on the subject by faculty and fellows associated with the Programs includes:

Stock Market Short-Termism’s Impact

Mark Roe
Harvard Public Law Working Paper No. 18-28 (2018)

Are Buybacks Shortchanging Investment?

Jesse M. Fried and Charles C.Y. Wang
Harvard Business Review, 88-95 (2018)

Who Bleeds When the Wolves Bite? A Flesh-and-Blood Perspective on Hedge Fund Activism and Our Strange Corporate Governance System

Leo E. Strine, Jr.
126 Yale Law Journal, 1870-1971 (2017)

Corporate Power is Corporate Purpose I: Evidence from My Hometown

Leo E. Strine, Jr.
33 Oxford Review of Economic Policy, 176–187 (2017)

Short-Termism and Shareholder Payouts: Getting Corporate Capital Flows Right

Jesse M. Fried and Charles C. Y. Wang
8 Review of Corporate Finance Studies,  207-233 (2019)

Securing Our Nation’s Economic Future: A Sensible, Nonpartisan Agenda to Increase Long-Term Investment and Job Creation in The United States

Leo E. Strine, Jr.
71 Business Lawyer, 1081-112 (2016)

The Long-Term Effects of Hedge Fund Activism

Lucian A. Bebchuk, Alon Brav, and Wei Jiang
115 Columbia Law Review, 1085-1156 (2015)

The Uneasy Case for Favoring Long-Term Shareholders

Jesse M. Fried
124 Yale Law Journal, 1554-1628 (2015)

Can We Do Better by Ordinary Investors? A Pragmatic Reaction to the Dueling Ideological Mythologists of Corporate Law

Leo E. Strine, Jr.
114 Columbia Law Review, 449-502 (2014)

Corporate Short-Termism—In the Boardroom and in the Courtroom

Mark J. Roe
68 The Business Lawyer, 977-1006 (2013)

The Myth That Insulating Boards Serves Long-Term Value

Lucian A. Bebchuk
113 Columbia Law Review, 1637-1694 (2013)

How to Fix Bankers’ Pay

Lucian Bebchuk
139 Daedalus, 52-60 (2010)

Paying for Long-Term Performance

Lucian A. Bebchuk and Jesse M. Fried
158 University of Pennsylvania Law Review, 1915-1960 (2010)

How to Tie Equity Compensation to Long-Term Results

Lucian A. Bebchuk, Jesse M. Fried
22 Journal of Applied Corporate Finance, 99-106 (2010)