Short-termism : challenges and resolutions

Gallery, Gerry T. & Gallery, Natalie (2009) Short-termism : challenges and resolutions. Australian Accounting Review, 19(4), pp. 275-277.

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The global financial crisis has highlighted the vulnerability of our economy to systemic risks. While its causes are numerous and relate to complex problems deeply embedded in capital markets, ‘short-termism’ (excessive focus on short-term outcomes at the expense of long-term wealth creation and sustainability) has frequently been flagged as a major contributor to this crisis. Although short-termism is not new, the global financial crisis has highlighted the presence of short-termism among institutional investors, and the failure of global markets and regulators to deal with such perverse and destructive behaviour (Guyatt 2009). Solutions are clearly needed. Although there is a body of research that provides evidence of the presence of short-termism in capital markets and the consequences of short-term decision-making on the financial wellbeing of both individuals and organisations, there is no consensus on mitigating solutions to short-termism. What emerges from the literature is the need to take a broad interdisciplinary perspective in seeking solutions to the problem.

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1 citations in Scopus
1 citations in Web of Science®
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ID Code: 31969
Item Type: Journal Article
Refereed: Yes
Additional URLs:
Keywords: Short - termism, Board decision - making, Global financial crisis
DOI: 10.1111/j.1835-2561.2009.00063.x
ISSN: 1035-6908
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Accounting Auditing and Accountability not elsewhere classified (150199)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2009 CPA Australia
Deposited On: 27 Apr 2010 01:14
Last Modified: 05 Jan 2011 13:58

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