Fried, Jesse M.; Wang, Charles C. Y. - 2020
Investor-driven "short-termism" is said to harm EU public firms' ability to invest for the long term, prompting calls … for the EU to better insulate managers from shareholder pressure. But the evidence offered---rising levels of repurchases … investors to EU firms. We show that, over the last 30 years and the last decade, net shareholder payouts have been moderate, and …