Fishing with Dynamite


Permeating today’s society is an ever-growing focus on the near-term.  Now, more so than ever before, there appears to be a pressing need to deliver information, results and earnings as fast as possible.  News articles are punched out on mobile phones moments after the event, political campaigns are shaped by daily polls and financial performance is measured by reference to quarterly performance and relentless share price fluctuations.  This obsession with the short-term directly challenges any attempt to build for long-term growth.  We need to unpack and analyse the structures and incentives that encourage this behaviour and consider ways to promote the pursuit of long-term value. 

“Fishing with dynamite – the fight against short-termism” is a collection of articles and posts that pick at these issues with a hope of sparking debate and exploring noteworthy proposals.

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An Unknown Future for Corporate Governance in Australia

Corporate partner Tim Gordon discusses why the changes happening to Australian corporate governance might actually require us to completely change the way we structure our boards.

Liddell – Where corporate governance theory meets reality

Regular readers will know our views on the limitations of the “Shareholder Primacy” model in corporate governance. This FWD article looks at the Liddell Power Station saga as a case study as an owner, competitor, community and even politicians weigh into the complex debate.

A feel-good win in the global battle for capital

The Trump administration’s success in pushing through a cut in the US corporate tax rate has re-enlivened teeth gnashing in Australia about our own company tax rate for fear of being “left-behind” in the global race to attract capital.  



When The Going Gets Tough



In a recent update “Embedding ESG factors into mainstream investing” some of our colleagues discussed ESG (environmental, social and governance) concerns finally coming out of the shadows and becoming genuine considerations in investment decision-making. In this article, we discuss the "E" in ESG. 

For-Profit and Purpose – How a new corporate vehicle could save Australian Media

The Turnbull Government has promised its media reform package will “even the playing field” for the Australian media industry.  However, the “reforms” are more accurately described as deregulation, inevitably leading to the concentration of the media market, reducing the players on the traditional field. 

Cross shareholdings and cross energy consumers


For ten years, energy security in Australia has been held hostage to more of a political than a reasoned policy debate. So it was with interest that we watched the Federal Government announce Australia’s latest energy policy last week. It remains to be seen whether this new attempt will work.  


Goliath Primacy and the Director's Dilemma

Director duties come into stark relief when it comes to considering whether or not to recommend a takeover bid. Fundamentally, these duties are to act in the interests of “the company as a whole” and for a proper purpose. 

Why Sports should consider a PPP model

There’s always discussion about whether the government should spend money on sport – from stadiums to Olympic programs down to the grassroots. Of course they should – sport is crucial to the fabric of Australian cities.

So called “continuous disclosure” practices failing again!! SAD!!

If the first month of the Trump administration has taught us anything, it’s that technology has increased the speed and ease at which individuals around the world (including those in the West Wing) can share information. These developments are, however, challenging the traditional operation of financial markets.

A turning tide in corporate governance and executive remuneration – time to take the current when it serves

In securing her leadership of the Conservative Party, Theresa May pledged to dramatically reform corporate governance in the UK, proposing measures more restrictive on remuneration practices than anything suggested by either side of Australian politics.



Tim Gordon


+61 2 9263 4251

James Campisi


+61 2 9263 4563


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