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Keep Quarterly Reporting
September 19, 2018
“The long-term benefits of semi-annual reporting are doubtful, while its costs are significant.”
President Trump recently tweeted, “stop quarterly reporting and go to a six-month system.” This tweet reflects the belief of many corporate executives and commentators that quarterly reporting pushes public companies away from attractive long-term investments. However, shifting company reports to every six months does not meet anyone’s definition of the long-term. An extra three months to announce financial results would not induce American executives to take off the shelf the hypothetical stockpile of long-term, job-creating projects — now allegedly stymied by quarterly reporting.