AbstractWe investigate whether short-termism distorts the investment decisions of stock market-listed firms. To do so, we compare the investment behavior of observably similar public and private firms, using a new data source on private U.S. Firms and assuming for identification that closely held private firms are subject to fewer short-termist pressures. Our results show that compared with private firms, public firms invest substantially less and are less responsive to changes in investment opportunities, especially in industries in which stock prices are most sensitive to earnings news. Taxi driver walking contradiction youtube. These findings are consistent with the notion that short-termist pressures distort investment decisions.

Legally Mine Legally Mine has been using law firms and law partners that are generally considered the creators of asset protection in the U.S. One of these partners took over the firm that was started by Jay Mitton (the father of asset protection) and for a little over the last decade has helped thousands of people to protect their assets.

AbstractWe propose that innovative originality is a valuable organizational resource and that owing to limited investor attention and skepticism of complexity, greater innovative originality may be undervalued. We find that firms’ innovative originality strongly predicts higher, more persistent, and less volatile profitability and higher abnormal stock returns, findings that are robust to extensive controls.

The return predictive power of innovative originality is stronger for firms with higher valuation uncertainty, lower investor attention, and greater sensitivity of future profitability to innovative originality. This evidence suggests that innovative originality acts as a “competitive moat” and is undervalued by the market.Received November 5, 2015; editorial decision June 12, 2017 by Editor Andrew Karolyi.