For more than two decades both the business press and research in several academic disciplines have seen an extended debate over what has been called “myopia” or “short‐termism”. These terms have been used to describe decisions in which firms pursue short‐term gains ( for example,...

Research into the correlation between market share and profitability has led to debate over whether the observed association is direct or spurious. The fundamental question remains whether the pursuit of market share is an appropriate strategy. This paper reports the results of a structural...