# kaal:claim:3411897-013

**Claim.** Less successful companies share a myopic short term focus on shareholder value maximization, which produces an unhealthy emphasis on share price, market valuations, and financial metrics that obscure issues of relevancy.

**Type.** failure  **Support.** argued

**Holds when.**

- particularly acute for listed companies

**Source quote.**

> Less successful companies often share a myopic and short-term focus on shareholder value maximization that has led to an unhealthy emphasis on firm share price, market valuations, and financial metrics that obscure issues of relevancy.

**From.** Wulf A. Kaal, *Decentralization - Past, Present, and Future* (2019), Part I: The Past, How We Got This Far, page 20

**Cite as.** Wulf A. Kaal, Decentralization - Past, Present, and Future (2019). SSRN: https://ssrn.com/abstract=3411897

**Verify.** sha256 of source PDF `82f0aea026b3e3a526ec51bc073b3b864dc06cd9083ff9c54c550037045edaa9` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Decentralization%20-%20Past%2C%20Present%2C%20and%20Future.pdf

**Failure mode.** short-termism-obscures-relevancy  (family: short-termism)

**Topics.** risk-and-incentives, corporate-governance

**Keywords.** short-termism, shareholder-value, relevancy, incumbent-failure

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3808859-003
- restates: https://wulfkaal.github.io/claims/2922176-004

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.