This is where the theory falls apart. When “long-term strategy” and “short-term quarterly earnings” get into the boardroom together at a public company, it ain’t “long-term strategy” that’s walking out.
It can be though. "Short Term" tends to win when CEO pay is contingent upon hitting certain share price at certain times. Founders tend to not have this issue, and I'm sure other CEOs can have pay packages crafted this way if we desired.
There’s nothing stopping it except that investors solely want short term gains and are rewarding CEOs and management for delivering that and punishing them when they don’t.
