Short-termism in business and finance is blamed for everything from excessive CEO compensation to underinvestment in infrastructure to the Great Recession itself.
BlackRock CEO Larry Fink last year took CEOs to task for excessive dividend payouts, an obsession with quarterly-earnings guidance and ignoring long-term risks and opportunities.
Over the long-term, environmental, social and governance, or ESG, issues — ranging from climate change to diversity to board effectiveness — have real and quantifiable financial impacts,” Fink wrote in his annual letter.
Next year, companies that want to take a long-term view may get some support, by listing on a new “Long-Term Stock Exchange.”
Read the full article by David Bank about stock exchange from ImpactAlpha
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