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 "identifier": "kaal:entity:stewardship-codes",
 "name": "Stewardship codes",
 "termCode": "stewardship-codes",
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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/2922176-012",
   "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"
   ],
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   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2922176-013",
   "identifier": "kaal:claim:2922176-013",
   "text": "Mobilizing investors as stewards leads managers to ask the wrong questions about sustainable success: rather than pushing firms toward innovation and relevancy, such measures simply reinforce the centralized shareholder primacy view they were meant to soften.",
   "abstract": "In fact, mobilizing investors may actually lead managers to ask the wrong kind of questions about what needs to be done to ensure sustainable success. Rather than incentivizing a focus on innovation and relevancy, such measures merely reinforce the centralized shareholder primacy view.",
   "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": [
    "jurisdictions that have adopted stewardship codes"
   ],
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   "status": "current"
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  {
   "@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"
   ],
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 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'stewardship-codes'. Derived node: a roster, not an adjudicated definition."
}