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Roger Martin
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Roger Martin is an author, strategist and business school dean.

Entries by Roger Martin

The Dark Side of Efficient Markets

(3) Comments | Posted October 15, 2014 | 11:18 AM

This post first appeared on Harvard Business Review's blog, and is posted in conjunction with the publication of the October 2014 issue of the magazine's feature article, "The Rise (and Likely Fall) of the Talent Economy," which can be read in full here.

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Why Monopolistic Pension Funds Undermine Capitalism

(0) Comments | Posted October 7, 2014 | 1:39 PM

This post first appeared on Harvard Business Review's blog, and is posted in conjunction with the publication of the October 2014 issue of the magazine's feature article, "The Rise (and Likely Fall) of the Talent Economy," which can be read in full here.

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When Talent Started Driving Economic Growth

(3) Comments | Posted October 5, 2014 | 10:05 AM

This post first appeared on Harvard Business Review's blog, and is posted in conjunction with the publication of the October 2014 issue of the magazine's feature article, "The Rise (and Likely Fall) of the Talent Economy," which can be read in full here.

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We Can't Talk About Inequality Without Talking About Talent

(10) Comments | Posted October 4, 2014 | 9:40 AM

This post first appeared on Harvard Business Review's blog, and is posted in conjunction with the publication of the October 2014 issue of the magazine's feature article, "The Rise (and Likely Fall) of the Talent Economy," which can be read in full here.

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A Brief History of America's Attitude Toward Taxes

(16) Comments | Posted October 3, 2014 | 12:44 PM

This post first appeared on Harvard Business Review's blog, and is posted in conjunction with the publication of the October 2014 issue of the magazine's feature article, "The Rise (and Likely Fall) of the Talent Economy," which can be read in full here.

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When Star Talent Grew More Powerful Than Capital

(3) Comments | Posted September 10, 2014 | 6:42 PM

This post first appeared on Harvard Business Review's blog, and is posted in conjunction with the publication of the October 2014 issue of the magazine's feature article, "The Rise (and Likely Fall) of the Talent Economy," which can be read in full here.

...
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Setting the Record Straight

(3) Comments | Posted November 8, 2013 | 11:06 AM

One might have thought that a traditional print newspaper like the Financial Times would be getting a little less arrogant as it slides toward economic extinction, but if anything, the opposite is the case, as I have experienced in the last few weeks.

By way of background, on June...

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The Message From Doha: Time's Running Out

(2) Comments | Posted December 5, 2012 | 12:18 AM

The Red Queen and Green Business

It's time to give up our faint hopes that scientists have been unnecessarily gloomy about the rate at which the climate is changing. They were wrong. As the New Scientist asserts, it's even worse than we thought. We are not gaining ground...

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Does a Trade-off Need to Stay a Trade-off?

(28) Comments | Posted January 19, 2012 | 8:35 AM

There are two dominant reactions to my assertion that corporations should abandon shareholder value maximization as their singular goal -- their objective function. The first is that it is a lovely but idealistic and impractical thought. The second is that it is a socialist, anti-capitalist thought that would be good...

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Little Sally Learns About the Toxicity of Shareholder Value Maximization

(70) Comments | Posted January 18, 2012 | 7:55 AM

A huge benefit to a company switching from the singular goal of maximizing shareholder value, measured by increasing its share price, to earning an acceptable real return on real shareholder investment, is that it can actually motivate its employees, not to mention its customers.

Think about it: what employee bounds...

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Earning a Real Return on Real Investment

(72) Comments | Posted January 17, 2012 | 9:43 AM

Boards, executives and compensation consultants hold an almost fanatical attachment to the expectations market because they believe that the job of management should be to maximize the long-term value of the firm and the current stock price is considered the best proxy for that long-term value. Hence, boards and executives...

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Why Chasing Expectations Is a Fool's Errand

(20) Comments | Posted January 16, 2012 | 10:29 AM

As the NFL season winds down and the New England Patriots and New York Giants have advanced to the conference championships -- one game away from a potential re-match in Super Bowl XLVI on February 5, 2012 -- the minds of many NFL fans are taken back to the magical...

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The Circus In Which the Modern CEO Lives

(98) Comments | Posted January 15, 2012 | 12:54 PM

This post is in response to the comments left by readers on my post yesterday, "What CEOs and Hedge Funds Don't Want the 99% to Understand."

Readers often challenge what they see as my dark view of CEOs and hedge fund managers, telling me that they aren't really the...

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What CEOs and Hedge Funds Don't Want the 99% to Understand

(337) Comments | Posted January 14, 2012 | 7:12 PM

Zuccotti Park may be emptied and the Wall Street no longer occupied, but the anger of the 99% hasn't abated one iota as they watched CEOs cash in on the recovery and hedge funds make money hand over fist whether the market is going up or down. This shouldn't be...

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Fixing the Game: The Dangers of Expectation

(17) Comments | Posted May 10, 2011 | 11:17 AM

With the advent of shareholder-value theory and stock-based compensation, executives have increasingly turned their attention to the expectations market, recognizing that it is where the money is. But even using earning guidance and aggressive accounting, executives can't keep expectations on the rise forever, nor can they continue to meet...

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Old CEO Pay Theories Die Hard -- and Damagingly

(3) Comments | Posted May 5, 2011 | 9:57 AM

Old theories die hard and my fellow business school Dean Mark Zupan makes that clear in his blog post on my book and articles. Apparently there is no problem with stock-based compensation. It is the answer. The problems are dismissed with the modest admission that "expectations do not...

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Fixing the Game: The Problem with Expectations

(11) Comments | Posted May 4, 2011 | 12:24 PM

Modern capitalism dictates that the job of executive leadership is to maximize shareholder value, as measured by the market value of the company's stock. To that end, the CEO should always be working to increase the stock price, to raise expectations about the company's prospects ad infinitum. And just...

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Fixing the Game: What Capitalism Can Learn from the NFL

(9) Comments | Posted May 2, 2011 | 1:23 PM

The NFL is, far and away, the most successful sports league in America. Regular-season NFL games regularly garner higher ratings than the final round of golf's Masters, the Kentucky Derby, the Daytona 500, baseball's all-star game, the most watched National Basketball Association final game, and college basketball's Final Four title...

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Fixing the Game: The Unintended Consequences of an Economic Theory

(117) Comments | Posted April 27, 2011 | 3:40 PM

The past 70 years have seen three massive, value-destroying market crashes. After each, regulators have attempted to punish wrongdoers and implement fixes to prevent future meltdowns. It hasn't helped, because regulators have focused on symptoms instead of root causes. The only way we can avoid increasingly frequent stock market meltdowns...

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Fixing the Game: What the NFL Can Teach Us About Executive Compensation

(153) Comments | Posted April 25, 2011 | 9:30 AM

The last decade has seen unprecedented upheaval in our capital markets, marked by two massive crashes that destroyed billions of dollars in value: the dot-com crash of 2000-2 and the financial market crash of 2008. After 2002, a whole series of regulatory changes were adopted to prevent a future crash....

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