{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/long-termism",
 "identifier": "kaal:entity:long-termism",
 "name": "Long termism",
 "termCode": "long-termism",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/long-termism.md",
 "sha256": "aad03e86f012296aea1d19f0e2b23f1f4657ee75a8bbdf4389eb897d9825d05d",
 "additionalProperty": [
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   "name": "status",
   "value": "derived"
  },
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   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 5
  },
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   "@type": "PropertyValue",
   "name": "work_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2012",
    "2021"
   ]
  },
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2097160-024",
   "identifier": "kaal:claim:2097160-024",
   "text": "Before conversion, executives holding securities with long-term maturities and coupon payments have incentives to manage the company with debt-holders' interests in mind.",
   "abstract": "Because executives would be holding securities with long-term maturities and coupon payments, executives would have incentives to manage the company with the interests of debt-holders in mind.184",
   "citation": "Wulf A. Kaal, Contingent Capital in Executive Compensation (2012). SSRN: https://ssrn.com/abstract=2097160",
   "datePublished": "2012",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "before any conversion into equity",
    "strength depends on the proportion of debt in the package"
   ],
   "source_pdf_sha256": "1e1f8aa246bce19f4658dbceb455c7c2a272aa5d63a9e9bdaa46a3a5a87680fc",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2922176-012",
   "identifier": "kaal:claim:2922176-012",
   "text": "Corporate governance initiatives designed to encourage long-term thinking rarely work as policymakers expect them to.",
   "abstract": "Corporate governance initiatives that encourage long-term thinking rarely work as expected by policymakers.",
   "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": [
    "stewardship codes and comparable long-termism initiatives"
   ],
   "source_pdf_sha256": "fa4e986917d437cb1504281e7b986be2698e9507d8feaf426c9d7d1754ca882c",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2922176-017",
   "identifier": "kaal:claim:2922176-017",
   "text": "Code guidance assigning the board responsibility for long-term value creation, as in the 2016 Dutch Corporate Governance Code, is difficult to implement because neither long-term value nor the intended beneficiary of that value is defined.",
   "abstract": "Implementation of such code guidance is rather difficult in practice as definitions of long-term value, and the beneficiary of the value creation, are unclear.",
   "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": [
    "Dutch Corporate Governance Code, December 2016"
   ],
   "source_pdf_sha256": "fa4e986917d437cb1504281e7b986be2698e9507d8feaf426c9d7d1754ca882c",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782210-019",
   "identifier": "kaal:claim:3782210-019",
   "text": "Each new post should be able to reference older posts, so that when a new post is validated it can raise or lower the reputational value of past posts depending on how users come to perceive the precedent.",
   "abstract": "If the new post is validated, their value can affect the value of past posts positively or negatively. Old posts can have their reputational value change, depending on how important users perceive the precedent for the system.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, The Importance of Reputation for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782210",
   "datePublished": "2021",
   "claim_type": "design",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "forums with permanent post histories"
   ],
   "source_pdf_sha256": "9cc531ab239f6266c8aeddcc8e54f4c06029c44e825444bee137bbcc0c9d0a8e",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782210-023",
   "identifier": "kaal:claim:3782210-023",
   "text": "Reputation dilates time: it slows immediate transfers of wealth so that past and future enter present decisions, with future-oriented incentives supplied by reputation-based salaries and past-oriented incentives supplied by the editability of reputation.",
   "abstract": "Reputation dilates time. It allows us to slow down immediate transfers of wealth, allowing us to consider the future and the past. Future-oriented incentives come from reputation-based salaries. Past-oriented incentives come from the editability of repu- tation.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, The Importance of Reputation for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782210",
   "datePublished": "2021",
   "claim_type": "definitional",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "systems where reputation can be retroactively slashed or augmented"
   ],
   "source_pdf_sha256": "9cc531ab239f6266c8aeddcc8e54f4c06029c44e825444bee137bbcc0c9d0a8e",
   "status": "current"
  }
 ],
 "description": "5 claims in the published works of Wulf A. Kaal carry the concept tag 'long-termism'. Derived node: a roster, not an adjudicated definition."
}