Does shareholder myopia lead to managerial myopia? A first look (original) (raw)

Applied Financial Economics, 2000

Abstract

Shareholder myopia may not necessarily lead to managerial myopia. To the extent that managerial myopia is a problem for some firms, the reasons for this must be sought elsewhere. While institutional ownership has a positive effect on capital expenditures, it appears to have a negative effect on R&D expenditures and no effect on advertising expenditures. The results in this paper

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