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 "identifier": "kaal:entity:buybacks",
 "name": "Buybacks",
 "termCode": "buybacks",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2922176-014",
   "identifier": "kaal:claim:2922176-014",
   "text": "Stewardship pressures push companies toward an unhealthy focus on short-term dividends and share buybacks designed to please the stock market, the opposite of the long-term orientation the codes intend.",
   "abstract": "Indeed, stewardship pressures often expose companies to an unhealthy focus on short-term dividends and share buybacks designed to please the stock market.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "companies subject to institutional investor stewardship pressure"
   ],
   "source_pdf_sha256": "fa4e986917d437cb1504281e7b986be2698e9507d8feaf426c9d7d1754ca882c",
   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2922176-015",
   "identifier": "kaal:claim:2922176-015",
   "text": "A focus on dividends and share buybacks makes it extremely difficult for a company to fund the innovation investment on which long-term relevancy depends.",
   "abstract": "Figure 2 illustrates that a focus on dividends and share buybacks makes it extremely difficult for a company to invest in innovations that are critical to maintaining relevancy",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "S&P 500 companies, 2012 to 2016 revenue growth data"
   ],
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   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2922176-016",
   "identifier": "kaal:claim:2922176-016",
   "text": "Ten of the thirteen S&P 500 companies with above-average revenue growth over the 2012 to 2016 period had never paid a dividend and had never engaged in share buybacks.",
   "abstract": "Figure 2 shows that ten out of the thirteen S&P 500 with an above-average revenue growth have never paid any dividends to their shareholders and were never engaged in share buyback activities.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176",
   "datePublished": "2017",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "thirteen S&P 500 companies with above-average revenue growth, 2012 to 2016"
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   "status": "current"
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 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'buybacks'. Derived node: a roster, not an adjudicated definition."
}