Time to educate investors on risks of short-termism: BOQ chief
Superannuation funds and other investors need to adopt a longer-term view of company performance, according to the managing director of the Bank of Queensland, David Liddy.
Speaking at the Conference of Major Superannuation Funds on the Gold Coast, Liddy said investors too often viewed companies through the prism of short-term performance.
As well, Liddy said impressions of companies were too often driven by analysts who were more focused on a company's short-term data than its long-term outlook.
"We need to educate the market to change the way we measure companies," he said. "Right now there is too much short-termism."
The former Queensland Treasurer and chairman of Macarthur Coal, Keith Delacy, said superannuation funds could exert more influence on companies by exercising their voting rights.
He said such influence could be imposed by not just opposing some issues but by declining to vote at all.
AUTHOR
Mike Taylor
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