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What Apple Should Do with Its Massive Piles of Money

Harvard Business Review

I know that finance professors at business schools throughout the nation teach MBAs and executives that, for the sake of economic efficiency, a company should “maximize shareholder value.” Get rid of the buybacks, and there will be lots of money for other constructive programs to reward employees for their commitment to the company.

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What Would Happen if the U.S. Stopped Requiring Quarterly Earnings Reports?

Harvard Business Review

Firms that did not previously offer guidance were among the first to abandon voluntary quarterly reporting while firms that are committed to earnings guidance seem to be committed to quarterly reporting, regardless of what the law requires. Remarkably, the UK evidence suggests that causality may actually run the other way.

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