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Paraphrase Ideally, managers adhere to this long-run focus, but there are numerous examples in recent years where the focus for many companies shifted to the

Paraphrase Ideally, managers adhere to this long-run focus, but there are numerous examples in recent years where the focus for many companies shifted to the short run. Perhaps most notably, prior to the recent financial crisis, many Wall Street executives received huge bonuses for engaging in risky transactions that generated short-term profits. Subsequently, the value of these transactions collapsed, causing many of these Wall Street firms to seek a massive government bailout

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