{"product_id":"saving-capitalism-from-short-termism-how-to-build-long-term-value-and-take-back-our-financial-future-hardcover-2","title":"Saving Capitalism from Short-Termism: How to Build Long-Term Value and Take Back Our Financial Future - Hardcover","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eAlfred Rappaport\u003c\/b\u003e (Author), \u003cb\u003eJohn Bogle\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003ePRAISE FOR SAVING \u003ci\u003eCAPITALISM FROM SHORT TERMISM\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\"As Rappaport keeps on speaking out for the realities surrounding investment and speculation, our society will profit as it builds on his keen insights.\"\u003cbr\u003e\u003cb\u003e--from the Foreword by John C. Bogle, founder of the Vanguard Group\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Al Rappaport brings insight and wisdom to the short-termism debate, fully demonstrating the way perverse incentives are undermining public companies and capital markets.\"\u003cbr\u003e\u003cb\u003e--John Plender, \u003ci\u003eFinancial Times\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"In this rigorous, useful, and delightful book, Rappaport undresses short-term financial incentives for what they are: parasites that draw the value-creating innovation out of companies. And he shows how executives can align long-term value-creating investments with the right investors' expectations.\"\u003cbr\u003e\u003cb\u003e--Clayton Christensen, Harvard Business School\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"How to make managers focus on the long-run is one of the most consequential and difficult questions in corporate governance and is the subject of much debate and disagreement. Professor Alfred Rappaport's insightful book is a valuable contribution to this important debate.\"\u003cbr\u003e\u003cb\u003e--Lucian Bebchuk, Professor, Harvard Law School, and coauthor of \u003ci\u003ePay Without Performance\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"\u003ci\u003eSaving Capitalism from Short-Termism\u003c\/i\u003e insightfully exposes the contradictions by which we incentivize money managers to require short-term focus by company managers. Again and again in rereading this book, I am struck with the author's felicitous style in raising subject after subject in which I have long been interested--but, until this read, have not been able to resolve. Buy it, read it, and enjoy.\"\u003cbr\u003e\u003cb\u003e--Robert A.G. Monks, founder ISS (Institutional Shareholder Services), Lens Governance Advisors, and The Corporate Library\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Capitalism fails when corporate managers and professional investors prefer their own interests to those the true owners of businesses. In \u003ci\u003eSaving Capitalism from Short-Termism\u003c\/i\u003e, Al Rappaport shows how new incentives schemes can deliver shareholder value for the 21st century.\"\u003cbr\u003e \u003cb\u003e--Edward Chancellor, author of \u003ci\u003eDevil Take the Hindmost: A History of Financial Speculation\u003c\/i\u003e and member of GMO's Asset Allocation team\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAbout the Book\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBusiness leaders today obsess over quarterly earnings and the current stock price--and for good reason. Corporate incentives typically focus on short-term profits rather than long-term value creation. Nothing is more harmful to businesses--and to the broader economy.\u003c\/p\u003e \u003cp\u003eFew business thinkers in recent decades have contributed more to this subject than Alfred Rappaport. As an author and educator, Rappaport is a pioneer in developing the principles of values-based management and is an acknowledged authority on how to make long-term shareholder value the essential driver of corporate strategy. His latest work, \u003ci\u003eSaving Capitalism from Short-Termism\u003c\/i\u003e, is a clarion call for conquering the addiction to short-term profit--and getting on the path to building long-term value.\u003c\/p\u003e \u003cp\u003eRappaport's solution to short-termism is simple but profound: business leaders must align the interests of corporate and investment managers with those of their shareholders and beneficiaries. His plan includes: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eGaining the commitment of senior management and the board to long-term value creation as their governing objective \u003c\/li\u003e\n\u003cli\u003eIncentives that reward CEOs, operating-unit managers, and front-line employees for delivering superior long-term value \u003c\/li\u003e\n\u003cli\u003eA major overhaul of corporate financial reporting that provides more relevant and transparent information to investors and other financial statement users \u003c\/li\u003e\n\u003cli\u003ePerformance fees that align the interests of investment managers and shareholders \u003c\/li\u003e\n\u003cli\u003eActively managed funds with concentrated holdings and long investment horizons that tilt the odds in favor of better long-term shareholder returns\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eIf corporate and investment leaders do not address the problem of short-termism, more financial crises may be in store--and they are likely to be more severe and broader than the meltdown in 2008.\u003c\/p\u003e \u003cp\u003eThe trade-off is clear: We can continue to pursue short-term profit at the expense of economic vitality, individual financial security, and perhaps even the dominance of the free-market system itself. Or we can take the responsible path outlined in this book and generate innovation, quality, growth, and value over the long term.\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eAlfred Rappaport\u003c\/b\u003e is the Leonard Spacek Professor Emeritus at Northwestern University's J. L. Kellogg Graduate School of Management. He is the author of the business classic \u003ci\u003eCreating Shareholder Value\u003c\/i\u003e and coauthor with Michael Mauboussin of Expectations Investing. Rappaport has been a guest columnist for \u003ci\u003eThe Wall Street Journal\u003c\/i\u003e, \u003ci\u003eThe New York Times\u003c\/i\u003e, \u003ci\u003eFortune\u003c\/i\u003e, and \u003ci\u003eBusinessWeek\u003c\/i\u003e. He created the \u003ci\u003eWall Street Journal Shareholder Scoreboard\u003c\/i\u003e, an annual ranking by total shareholder returns of the 1,000 most valuable U.S. corporations, published annually from 1995 to 2008.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 256\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1.1 x 9.1 x 5.9 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eIllustrated:\u003c\/strong\u003e Yes\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e August 11, 2011\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":42026479059024,"sku":"9780071736367","price":43.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0592\/9540\/0016\/files\/SmduU09DZGs0VTdiTVpqZ1NDOU9NUT09_c5dcb002-b960-4829-9ed0-e4e4aadfcab4.webp?v=1771831035","url":"https:\/\/palm-malen-gift-shop-pmrc.myshopify.com\/products\/saving-capitalism-from-short-termism-how-to-build-long-term-value-and-take-back-our-financial-future-hardcover-2","provider":"Palm Malen Gift Shop -PMRC","version":"1.0","type":"link"}