Managerial Myopia and Disclosure Frequency

2003 ◽  
Author(s):  
Sanjeev Bhojraj ◽  
Robert Libby
Keyword(s):  
Managerial Myopia

Does Long-Term Earnings Guidance Mitigate Managerial Myopia?

2015 ◽  
Author(s):  
Andrew C. Call ◽  
Shuping Chen ◽  
Adam M. Esplin ◽  
Bin Miao
Keyword(s):  
Earnings Guidance ◽  
Managerial Myopia

Knowledge inventories and managerial myopia

2002 ◽  
Vol 23 (8) ◽  
pp. 689-706 ◽  
Author(s):  
Kent D. Miller
Keyword(s):  
Managerial Myopia

scholarly journals Abnormal Loan Growth and Bank Profitability: Some Evidence from the Recent Crisis

2019 ◽  
Vol 14 (7) ◽  
pp. 36
Author(s):  
Simone Rossi ◽  
Mariarosa Borroni ◽  
Mariacristina Piva ◽  
Andrea Lippi
Keyword(s):  
Bank Profitability ◽  
Credit Growth ◽  
Crisis Period ◽  
Managerial Myopia ◽  
Lending Policy ◽  
European Banks ◽  
Loan Growth ◽  
Credit Standards ◽  
The Relationship

During healthy economic/financial times, credit growth often happens without proper provisioning. This is due to a managerial myopia that underestimates the risks underlying an expansive lending policy, leading to lower profitability in following years. However, given the countercyclicality of credit standards, this effect shouldn’t occur during harsh times. In this paper, we analyse the relationship between abnormal credit growth and bank profitability during a crisis period. In particular, we test the hypothesis that during a crisis, abnormal credit growth improves bank profitability, given the need for higher, or at least stable, credit standards. We find support for this assumption using a sample of 101 large European banks observed during the recent crisis period. Results are robust to different robustness checks.

RECTIFYING MANAGERIAL MYOPIA

2014 ◽  
Vol 25 (3) ◽  
pp. 6-6
Author(s):  
Steve Coomber
Keyword(s):  
Managerial Myopia

Why Do Firms Disagree with Short Sellers? Managerial Myopia versus Private Information

2019 ◽  
Vol 55 (8) ◽  
pp. 2431-2465 ◽  
Author(s):  
Leonce Bargeron ◽  
Alice Bonaime
Keyword(s):  
Private Information ◽  
Trading Strategy ◽  
Short Sellers ◽  
Managerial Myopia ◽  
Agency Issues ◽  
Target Management ◽  
Short Interest ◽  
Short Termism ◽  
Informational Advantage

Though short sellers on average succeed at identifying overvalued equity, firms often signal disagreement with short sellers by repurchasing stock when short interest increases. We investigate whether this disagreement reflects a myopic defense of inflated prices, or positive private information. These repurchases appear motivated by managers’ private information, not agency issues, even when managerial benefits to short-termism are enhanced or monitoring is weaker. Managers’ informational advantage relates to subsequent news, earnings, and risk, but is attenuated if activists target management or insiders sell. A trading strategy based on our findings earns 7.5% annually.

Marketing is Marketing—Everywhere!

2005 ◽  
Vol 30 (3) ◽  
pp. 1-10 ◽  
Author(s):  
Michael J Baker
Keyword(s):  
Emerging Economies ◽  
Product Life Cycle ◽  
Industrial Revolution ◽  
18Th Century ◽  
Theory Of Evolution ◽  
Secondary Sources ◽  
Goods And Services ◽  
Managerial Myopia ◽  
Advanced Economies ◽  
Uncertain Time

The theme of this paper is that in seeking to develop strategies for the future, we should not neglect or overlook hard-won lessons from the past. Learning through direct experience is almost invariably a process of experimentation or trial and error. It is uncertain, time-consuming, inefficient, and often risky. Accordingly, if we encounter a problem new to ourselves, our first reaction should be: “Has anyone encountered this problem before?” If so, then “What did they do, with what results?” Answers to these questions are to be found in the so-called secondary sources that record the knowledge gained by previous generations. Knowledge is distilled experience which has accumulated over time. It represents our current understanding of how the world works and, because it has been recorded, it is usually easily available and often free. Common sense dictates that we should start any problem-solving activity by establishing what we know already. To support this argument, this article reviews the processes of knowledge creation and ‘cumulativity’. Unless and until we have confirmed what is already known about a subject, any effort to solve a new problem can only be a hit-or-miss affair — a case of managerial myopia. Therefore, while addressing an important question such as the role of marketing in emerging economies, we should first define what we mean by ‘emerging economies’ and ‘marketing.’ Marketing is a synthetic discipline that integrates findings from other disciplines like economics, psychology, and sociology into a holistic explanation of commercial exchange behaviour. As for emerging economies, indeed, all the advanced economies were emerging economies once, and it is quite evident that as the Industrial Revolution that started in Great Britain in the 18th century spread through Europe and North America, so each newly indutrialized country, in turn, achieved take-off more quickly by learning from the experience of its predecessors. In conclusion, this paper cites three examples of robust ideas that have stood the test of time and offers important insights into marketing today: Ricardo's ‘Theory of Comparative Advantage’ which argues that countries should specialize in doing what they do best and exchange their surpluses with other countries Darwin‘s theory of evolution and its marketing derivative — the product life cycle Copeland's ‘classification of goods’ that first identified the importance of defining goods and services in terms of needs and benefits. The message is that our knowledge of marketing is universal. Marketing is marketing—everywhere.

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