Rajan, Raghuram Govind; Ramella, Pietro; Zingales, Luigi - 2022 - First draft: February 2022
Using natural language processing, we identify and categorize the corporate goals in the shareholder letters of the 150 largest companies in the United States, from 1955 to 2020. Corporate goals have proliferated during this period from an average of two in 1955 to almost 10 in 2020. We find a...
