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Posted on September 23, 2009
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Public Affairs
Overcoming Short-Termism: A Call for a More Responsible Approach to Investment and Business Management
The Corporate Values Strategy Group of the Aspen Institute Business and Society Program has secured the signatures of twenty-eight leaders in business, finance, government, academia, and labor on a statement calling for an end to "short-termism" in the country's financial markets and the creation of public policies that reward long-term value creation for investors and the public. The statement, Overcoming Short-Termism: A Call for a More Responsible Approach to Investment and Business Management (8 pages, PDF), calls for the development of market incentives to encourage "patient" capital, fiduciary responsibilities that better align the interests of financial intermediaries and their ultimate investors, and greater transparency with respect to investor disclosures. The statement also highlights the need to focus on changing the financial system rather than just individual corporations.
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