Are loyalty shares an effective antidote against short‐termism? Empirical evidence from Italy

Mio, Chiara; Zaro, Elise Soerger; Fasan, Marco

doi:10.1002/bse.2473

Cited by 4 publications

(5 citation statements)

References 44 publications

(83 reference statements)

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“…This sample prioritization step proved helpful on several occasions. For example, based on articles included in Category 1, we found studies that explored whether holding shares over time affects decision-making and governance for sustainability (Mio et al, 2020) and analyzed how “time as money” (time stocked through monetization) influences environmental decisions (Whillans & Dunn, 2015). As we explain below, time as a resource can enable action but also be a constraint to take action.…”

Section: Methodsmentioning

confidence: 99%

“…Temporal assets refer to the stock of units of time that can be consumed, saved, or transferred. Mio et al (2020) examine the stock of time through the lens of loyalty shares. They explore whether holding shares over time affects decision-making and governance for sustainability.…”

Section: Methodsmentioning

confidence: 99%

“…It affects leadership and managerial decision-making. Mio et al (2020) looked at the effect of loyalty shares on short-termism [governance]. Loyalty shares award investors that hold the shares for a specified long period with grant extra dividends or voting rights.…”

Section: Temporal Resourcing For Sustainabilitymentioning

confidence: 99%

See 2 more Smart Citations

Varieties of Time in Business Sustainability Research: An Integrative Review and Research Agenda

Morales-Raya,

Muñoz

2023

Organization & Environment

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In this article, we tackle the lack of clarity in the conceptualization and substantive use of time in business sustainability research. We do so by means of an integrative review that synthesizes 172 papers published over the last 20 years across seven subject areas within business and management research. From our review, we developed a typology that highlights three primary categories that differentiate various conceptualizations and uses of time in business sustainability literature: (a) temporal resourcing, (b) temporal structuring, and (c) temporal prospecting for sustainability. The typology organizes a body of literature that remains scattered, provides conceptual clarity, and opens avenues for future empirical research and theorization in the space.

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Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

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Varieties of Time in Business Sustainability Research: An Integrative Review and Research Agenda

Morales-Raya,

Muñoz

2023

Organization & Environment

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“…Although, generally speaking, shareholders are not the actual controllers of the firm, the capital market can still push pressure on managers to force them to make decisions to pursue short-termism interests. [7] On the other hand, according to Mio et al's article, when managers focus on their self-interest, instead of long-term corporate value, they will also have a short-term horizon and make myopic decisions. [8] This means if they cannot obtain enough immediate payoffs, they may not pay attention to those innovations anymore.…”

Section: Causes Of Short-termismmentioning

confidence: 99%

Balancing Shareholder Rights vs. Managerial Authority by Loyalty Shares

Bai

2023

LNEP

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The imbalance between shareholder rights and managerial authority can be regarded as the main reason for short-termism in corporate governance. So as to mitigate short-termism, a loyalty-share structure has been suggested to be an effective solution. By exploring the causes of short-termism, this essay focuses on how loyalty shares have effects on short-termism in business. Additionally, it evaluates potential risks of loyalty shares, including unfairness, unlimited dual-class share structure, loss of profits, and less liquidity. Finally, this essay demonstrates the assignment of loyalty shares can help to resolve the problem of short-termism derived from the imbalance between shareholder rights and managerial authority.

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“…At the same time, these shortcomings lead to the loyalty of traditional online education platforms. In this study, these problems are summarized as the afunction and loyalty [49]. That is, the afunction reflects the quality problem of traditional education platform, while the loyalty reflects the non-quality emotional problem.…”

Section: Negative Effectsmentioning

confidence: 99%

From Traditional to VR-Based Online Education Platforms: A Model of the Mechanism Influencing User Migration

et al. 2020

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VR technology can help create optimal virtual learning spaces. Such spaces offer new visual experiences that break through the limitations of time and space and greatly stimulate people’s imagination and creativity in learning. Currently, the bandwidth required for such spaces limits the large-scale application of virtual reality (VR) technology for this purpose. With the large-scale deployment and application of high-speed networks, however, online education platforms based on VR technology will be better able to meet the diversified and personalized learning needs of learners. To promote the development and popularization of new online education platforms based on VR, the factors influencing the migration of learners from traditional online education platforms to new platforms need to be understood more clearly. A model based on the theory of negative, positive, and anchoring effects can explain learners’ migration behavior in this connection. To this end, a structural equation model based on the PLS variance algorithm was used to analyze data obtained through offline and online questionnaires. It was found that in terms of “negative effects”, the afunction and loyalty associated with traditional online education platforms reduced learners’ willingness to migrate to new platforms based on VR technology. In terms of “positive effects”, the novel interactivity and personalization brought by the new platform increased the willingness of users of traditional platforms to migrate to new platforms. In terms of “anchoring effects”, the system quality and relationship quality of learners’ use of traditional online education platforms, as well as the transfer costs associated with the new platform, generated learners’ risk perception about platform migration. In addition, risk perception not only negatively affects learners’ migration to the new platforms, but also strengthens their cognition of the system quality and relationship quality of the traditional platforms, while reducing their interactive awareness of those platforms. Therefore, by adjusting the psychological component of virtual learning, the online education platforms based on VR technology can create high-quality platforms migrating from traditional platforms.

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Are loyalty shares an effective antidote against short‐termism? Empirical evidence from Italy

Cited by 4 publications

References 44 publications

Varieties of Time in Business Sustainability Research: An Integrative Review and Research Agenda

Varieties of Time in Business Sustainability Research: An Integrative Review and Research Agenda

Balancing Shareholder Rights vs. Managerial Authority by Loyalty Shares

From Traditional to VR-Based Online Education Platforms: A Model of the Mechanism Influencing User Migration

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