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dc.contributor.authorDrew, Michael E
dc.date.accessioned2017-05-03T12:48:18Z
dc.date.available2017-05-03T12:48:18Z
dc.date.issued2009
dc.date.modified2010-06-23T05:24:43Z
dc.identifier.issn1035-6908
dc.identifier.doi10.1111/j.1835-2561.2009.00065.x
dc.identifier.urihttp://hdl.handle.net/10072/30544
dc.description.abstractThis study considers the controversy surrounding financial reporting and corporate short-termism as a puzzle. The question remains as to why corporate managers and investors persist in exhibiting behaviours that trade off long-term value creation for meeting short-term financial targets. Using inter-temporal choice theory, we suggest that the myopia characterising decision-making is entirely rational, given the set of incentives faced. We view the puzzle through the prism of universal owners (pension and superannuation funds), arguing that the investment policies or 'mandates' implemented by these financial behemoths is the source of the myopic behaviour. The paper explores a range of policies that universal owners may consider implementing to ensure that the payoffs to corporate managers and investors are optimised through the pursuit of long-termism.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.format.extent110398 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglish
dc.language.isoeng
dc.publisherWiley-Blackwell Publishing Asia
dc.publisher.placeAustralia
dc.publisher.urihttp://www.interscience.wiley.com/jpages/1035-6908
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom295
dc.relation.ispartofpageto302
dc.relation.ispartofissue4
dc.relation.ispartofjournalAustralian Accounting Review
dc.relation.ispartofvolume19
dc.rights.retentionY
dc.subject.fieldofresearchOther economics
dc.subject.fieldofresearchAccounting, auditing and accountability
dc.subject.fieldofresearchFinance
dc.subject.fieldofresearchcode3899
dc.subject.fieldofresearchcode3501
dc.subject.fieldofresearchcode350202
dc.titleThe puzzle of financial reporting and corporate short-termism: A universal ownership perspective
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.rights.copyright© 2009 CPA Australia Ltd (CPA Australia). This is a post print of an article published in the Australian Accounting Review. Reproduced in accordance with the copyright policy of the publisher.The definitive version is available at www.interscience.wiley.com
gro.date.issued2009
gro.hasfulltextFull Text
gro.griffith.authorDrew, Michael E.


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