{"id":"https://openalex.org/W313870937","doi":"https://doi.org/10.2139/ssrn.2511507","title":"Does a Long-Term Orientation Create Value? Evidence from a Regression Discontinuity","display_name":"Does a Long-Term Orientation Create Value? Evidence from a Regression Discontinuity","publication_year":2014,"publication_date":"2014-01-01","ids":{"openalex":"https://openalex.org/W313870937","doi":"https://doi.org/10.2139/ssrn.2511507","mag":"313870937"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.2511507","doi":"https://doi.org/10.2139/ssrn.2511507","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2511507","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"volume":null,"type":"preprint","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.2511507","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5062974091","display_name":"Caroline Flammer","orcid":"https://orcid.org/0000-0001-6295-0915","observed_orcids":["https://orcid.org/0000-0001-6295-0915"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I78577930","display_name":"Columbia University","ror":"https://ror.org/00hj8s172","country_code":"US","type":"education","lineage":["https://openalex.org/I78577930"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Caroline Flammer","raw_affiliation_strings":["Columbia University, 420 West 118th Street, Office 1429, New York, NY NY 10027, United States","National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","Columbia University","National Bureau of Economic Research (NBER)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Columbia University, 420 West 118th Street, Office 1429, New York, NY NY 10027, United States","institution_ids":["https://openalex.org/I78577930"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Columbia University","institution_ids":["https://openalex.org/I78577930"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5046485145","display_name":"Pratima Bansal","orcid":"https://orcid.org/0000-0002-7899-9622","observed_orcids":["https://orcid.org/0000-0002-7899-9622"]},"institutions":[{"id":"https://openalex.org/I125749732","display_name":"Western University","ror":"https://ror.org/02grkyz14","country_code":"CA","type":"education","lineage":["https://openalex.org/I125749732"]},{"id":"https://openalex.org/I4405252500","display_name":"Ivey Business School","ror":"https://ror.org/05esnc164","country_code":"CA","type":"education","lineage":["https://openalex.org/I125749732","https://openalex.org/I4405252500"]}],"countries":["CA"],"is_corresponding":false,"raw_author_name":"Pratima Bansal","raw_affiliation_strings":["University of Western Ontario - Richard Ivey School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Western Ontario - Richard Ivey School of Business","institution_ids":["https://openalex.org/I125749732","https://openalex.org/I4405252500"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5062974091"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I78577930"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":26,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10797","display_name":"Accounting and Organizational Management","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13957","display_name":"Corporate Governance and Financial Management","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/long-term-orientation","display_name":"long-term orientation","score":0.9950000047683716},{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.8539999723434448},{"id":"https://openalex.org/keywords/executive-compensation","display_name":"executive compensation","score":0.746999979019165},{"id":"https://openalex.org/keywords/shareholder-proposals","display_name":"shareholder resolutions","score":0.925000011920929},{"id":"https://openalex.org/keywords/long-term-incentives","display_name":"long-term incentives","score":0.7080000042915344},{"id":"https://openalex.org/keywords/principal-agent-problem","display_name":"principal-agent problem","score":0.671999990940094},{"id":"https://openalex.org/keywords/operational-performance","display_name":"operational performance","score":0.7739999890327454},{"id":"https://openalex.org/keywords/innovation-investment","display_name":"innovation investment","score":0.8870000243186951},{"id":"https://openalex.org/keywords/stakeholder-relationships","display_name":"stakeholder relations","score":0.9490000009536743}],"concepts":[{"id":"https://openalex.org/C66912227","wikidata":"https://www.wikidata.org/wiki/Q2138712","display_name":"Regression discontinuity design","level":2,"score":0.8324578404426575},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.7471827268600464},{"id":"https://openalex.org/C61797465","wikidata":"https://www.wikidata.org/wiki/Q1188986","display_name":"Term (time)","level":2,"score":0.6560458540916443},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.6302445530891418},{"id":"https://openalex.org/C23032112","wikidata":"https://www.wikidata.org/wiki/Q1344727","display_name":"Enterprise value","level":2,"score":0.5972434282302856},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5403644442558289},{"id":"https://openalex.org/C165696696","wikidata":"https://www.wikidata.org/wiki/Q11287","display_name":"Exploit","level":2,"score":0.5268192291259766},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.5229790210723877},{"id":"https://openalex.org/C108170787","wikidata":"https://www.wikidata.org/wiki/Q3951828","display_name":"Agency (philosophy)","level":2,"score":0.5048311352729797},{"id":"https://openalex.org/C200707436","wikidata":"https://www.wikidata.org/wiki/Q1053211","display_name":"Principal\u2013agent problem","level":3,"score":0.49451133608818054},{"id":"https://openalex.org/C151392489","wikidata":"https://www.wikidata.org/wiki/Q5419946","display_name":"Executive compensation","level":3,"score":0.4915519654750824},{"id":"https://openalex.org/C2780023022","wikidata":"https://www.wikidata.org/wiki/Q1338171","display_name":"Compensation (psychology)","level":2,"score":0.48348933458328247},{"id":"https://openalex.org/C201305675","wikidata":"https://www.wikidata.org/wiki/Q852998","display_name":"Stakeholder","level":2,"score":0.47713255882263184},{"id":"https://openalex.org/C2777042112","wikidata":"https://www.wikidata.org/wiki/Q5281658","display_name":"Discontinuity (linguistics)","level":2,"score":0.4534691274166107},{"id":"https://openalex.org/C2779093199","wikidata":"https://www.wikidata.org/wiki/Q338010","display_name":"Shareholder value","level":4,"score":0.4383183717727661},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.43780145049095154},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.38172948360443115},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.29631948471069336},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.25903794169425964},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2564508318901062},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0},{"id":"https://openalex.org/C11171543","wikidata":"https://www.wikidata.org/wiki/Q41630","display_name":"Psychoanalysis","level":1,"score":0.0},{"id":"https://openalex.org/C142724271","wikidata":"https://www.wikidata.org/wiki/Q7208","display_name":"Pathology","level":1,"score":0.0},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2139/ssrn.2511507","doi":"https://doi.org/10.2139/ssrn.2511507","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2511507","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.2511507","doi":"https://doi.org/10.2139/ssrn.2511507","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2511507","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Industry, innovation and infrastructure","score":0.6399999856948853,"id":"https://metadata.un.org/sdg/9"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":84,"referenced_works":["https://openalex.org/W18537060","https://openalex.org/W39941679","https://openalex.org/W1530579212","https://openalex.org/W1537430431","https://openalex.org/W1544617770","https://openalex.org/W1561438477","https://openalex.org/W1563103971","https://openalex.org/W1596664132","https://openalex.org/W1774679953","https://openalex.org/W1934757043","https://openalex.org/W1971763123","https://openalex.org/W1984640356","https://openalex.org/W1986467833","https://openalex.org/W1991699420","https://openalex.org/W1997680043","https://openalex.org/W2025723290","https://openalex.org/W2034009401","https://openalex.org/W2040324527","https://openalex.org/W2042061542","https://openalex.org/W2048932651","https://openalex.org/W2056238342","https://openalex.org/W2073653741","https://openalex.org/W2079479286","https://openalex.org/W2089603572","https://openalex.org/W2094104200","https://openalex.org/W2096862200","https://openalex.org/W2099114022","https://openalex.org/W2099281799","https://openalex.org/W2100056252","https://openalex.org/W2103847341","https://openalex.org/W2105211438","https://openalex.org/W2106386024","https://openalex.org/W2107796282","https://openalex.org/W2108267835","https://openalex.org/W2108548811","https://openalex.org/W2115347143","https://openalex.org/W2118258539","https://openalex.org/W2118911213","https://openalex.org/W2120757438","https://openalex.org/W2121758430","https://openalex.org/W2122007741","https://openalex.org/W2124298085","https://openalex.org/W2126114123","https://openalex.org/W2126885704","https://openalex.org/W2129700682","https://openalex.org/W2132443052","https://openalex.org/W2133086709","https://openalex.org/W2136120210","https://openalex.org/W2148870074","https://openalex.org/W2149010029","https://openalex.org/W2150610109","https://openalex.org/W2151352067","https://openalex.org/W2158286266","https://openalex.org/W2160860931","https://openalex.org/W2163414233","https://openalex.org/W2164284962","https://openalex.org/W2164639462","https://openalex.org/W2165144879","https://openalex.org/W2292526692","https://openalex.org/W2314501994","https://openalex.org/W2328413006","https://openalex.org/W2890877903","https://openalex.org/W3022337238","https://openalex.org/W3023181463","https://openalex.org/W3024332105","https://openalex.org/W3093712305","https://openalex.org/W3121408839","https://openalex.org/W3121492802","https://openalex.org/W3121529303","https://openalex.org/W3123265974","https://openalex.org/W3124144162","https://openalex.org/W3124259699","https://openalex.org/W3124304485","https://openalex.org/W3124778068","https://openalex.org/W3124803286","https://openalex.org/W3125153884","https://openalex.org/W3125575220","https://openalex.org/W3125705127","https://openalex.org/W3125803032","https://openalex.org/W3125822881","https://openalex.org/W3147421935","https://openalex.org/W4233420185","https://openalex.org/W4243269373","https://openalex.org/W4249729376"],"related_works":["https://openalex.org/W2603919155","https://openalex.org/W4411006651","https://openalex.org/W2741716873","https://openalex.org/W2901791133","https://openalex.org/W3131289534","https://openalex.org/W2787891333","https://openalex.org/W2625212918","https://openalex.org/W3121633931","https://openalex.org/W7213240447","https://openalex.org/W4413720488"],"abstract_inverted_index":null,"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":3},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":4},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-10-27T15:51:10.671819","created_date":"2016-06-24T00:00:00"}