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Reframing FinanceNew Models of Long-Term Investment Management$
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Ashby Monk, Rajiv Sharma, and Duncan L. Sinclair

Print publication date: 2017

Print ISBN-13: 9781503601789

Published to Stanford Scholarship Online: January 2018

DOI: 10.11126/stanford/9781503601789.001.0001

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PRINTED FROM STANFORD SCHOLARSHIP ONLINE (www.stanford.universitypressscholarship.com). (c) Copyright Stanford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in SSO for personal use.date: 02 April 2020

A Collaborative Model for Long-Term Investing

A Collaborative Model for Long-Term Investing

(p.1) 1 A Collaborative Model for Long-Term Investing
Reframing Finance

Ashby Monk

Rajiv Sharma

Duncan L. Sinclair

Stanford University Press

This chapter introduces the key themes that will be looked at in this book. In particular, it looks at the problem of long-term investing, illustrating why institutional investors are not acting in a long-term manner and the repercussions that this has for wider society. It provides a clear distinction between asset owner investors who have monopolies over their capital source and financial intermediaries, who are essentially acting on the former’s behalf but have come under much scrutiny for their shorter-term, opportunistic, and at times unethical behavior. The collaborative model of long-term investing and re-intermediation thesis is introduced as an innovative way for institutional investors to overcome some of the challenges of short-termism. The chapter outlines how social network theory and economic sociology are used to validate the collaborative model. This paves the way for detailed explanations and case study examples starting in Chapter 2.

Keywords:   long-term investment, short-termism, principal agency, collaborative model, institutional investment, economic sociology, private markets

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