INTRODUCTION

On this page we'll collect research on how people's time perspective -- long term vs. short term -- affects their ethical behavior. In the long run, good ethics generally pays off, as we show here. But life is full of chances to make more money quickly by acting unethically, even if these actions undercut your (or your company's) long term returns. This is why Gus Levy, at Goldman Sachs, urged his people to "be long term greedy, not short term greedy."

However, changes in the nature and speed of American business have made it harder for individuals and companies to focus on long term returns. As one example: The average holding period for stocks has dropped from 100 months in 1960 to six months in 2010. (This does not include high-speed trades.) If most shareholders are very short term shareholders, they will want management to boost the stock price now, not over the long run.

 

 


CONTENTS

Areas of Research

Case Studies

Ideas to Apply

Open Questions

To Learn More


AREAS OF RESEARCH

Back to top

...we'll cover Zimbardo on Time Perspective


CASE STUDIES 

 Back to top

A) Failures

--any profile of Goldman Sachs, to see how they left behind the "long term greedy" philosophy? Is the critique by Greg Smith thought to be legitimate?

B) Successes

--Warren Buffet?


IDEAS TO APPLY 

 Back to top

  • ...


OPEN QUESTIONS

 Back to top

  • ...


TO LEARN MORE 

 Back to top

Books

  • ...

Articles

Relevant Images and Videos

  • ...

 

This page is edited by ____. Other researchers may have contributed content.
======================================
Miscellaneous Links & References 

--Letter from Larry Fink (Blackrock) to Fortune 500 CEOs calling on them to shun short-termism and quarterly report hysteria, and lay out plans for long term value creation.

Back to top