Shareholder Value Maximisation & Executive Pay Hurting Real Returns, Says Paper

The actual paper has lots more interesting stuff. For ex, as a pre-amble it trashes most holy cows of modern finance:  CAPM, Efficient Market Hypothesis, Beta, VaR, Portfolio insurance, tail risk hedging, smart beta, leverage, structured finance products, benchmarks, hedge funds, risk premia, and risk parity to name but a few.

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