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| Author: | Demirag, I. Tylecote, A. Morris, B. |
| Title: | Accounting for financial and managerial causes of short-term pressures in British Corporations |
| Journal: | Journal of Business Finance and Accounting
1994 : DEC, VOL. 21:8, p. 1195-1214 |
| Index terms: | ACCOUNTING UNITED KINGDOM ECONOMICS |
| Language: | eng |
| Abstract: | Short-term pressures are defined and a distinction drawn between external S-TP, mainly from shareholders, and internal S-TP, from top management. A conceptual framework for analysing S-TP is developed and empirical evidence for their existence reviewed. Although certain crude formulations of the argument for short-termism are rejected, evidence is found for the existence of both types of S-TP in the UK. Excessive diversification, particularly by acquisition, exacerbates S-TP. |
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