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It should work fine just not quite as intense a flavor.
Remember using a canned product will be loaded with salt, and as it cooks away the saltiness will intensify - ease back on adding salt until cooking is finished. I normally cook without salt and use a good sea salt as a top-dressing on the plate.
how about just using red wine? that's how i braise my short ribs and they are always AMAZING! something hearty that you would love to drink with the meal...like a nero d'avola from italy or a south american malbec. both are reasonably priced and would work really, really well for a braise. i find stocks & broth to be too salty for a braise.
Beef short ribs really, really benefit from a good stock. Given the work involved, my opinion is beef broth won't compliment the dish and give it the rich flavor. Bigpan says it very well. Susanm gives a great alternative. When my daughter makes her beef short ribs she uses veal stock and wine!