Promoting the Long-Term Management of Public Corporations Through a Reform of Canadian Corporate Law
Bibliographic record
Abstract
Short-termism, a tendency to overemphasize strategies that generate immediate financial results at the expense of long-term profits, is a serious issue that the business community faces. Short-term market pressures and the responsive behaviour of corporate boards undermine long-term economic prosperity and social welfare. While select investors and executives may benefit financially from this short-termism, it largely runs counter to the interests of long-term investors and other stakeholders. Without concrete measures, it is unlikely that we will address the problem of short-termism.This article makes recommendations directed at encouraging long-term oriented thinking in boardrooms. It proposes two regulatory measures that, if jointly implemented, would dissuade boards from managing corporations for the short-term and insulate them from market pressures: first, imposing a fiduciary duty upon directors to act in accordance with the corporation’s long-term interests; and second, requiring executive compensation to be aligned with the corporation’s long-term interests.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.010 | 0.017 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.003 | 0.002 |
| Science and technology studies | 0.009 | 0.018 |
| Scholarly communication | 0.010 | 0.004 |
| Open science | 0.003 | 0.003 |
| Research integrity | 0.006 | 0.006 |
| Insufficient payload (model declined to judge) | 0.003 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".