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Long Finance Spring Conference 2014

Steady As She Goes: Long-Term Performance Measurement In Finance

Date

 

Wednesday, 26 March 2014

“The Kay Review Of UK Equity Markets And Long-Term Decision Making” was a useful contribution to debate on “when would we know our financial system is working?” The Kay Review makes a number of recommendations to move back from short term performance measurement, e.g., “Companies should seek to disengage from the process of managing short term earnings expectations”. However, ‘long’ is not just another four letter adjective for ‘good’. Most theorists believe strongly that the first step towards governance, control and management, whether scientific or commercial or political, is measurement. If we adopt ‘long’ does that mean we need to drop ‘measurement’? Over long periods we repeatedly find that not measuring people leads to low standards, slack practices and corruption. This is certainly not the intention of the Kay Review. If we adopt ‘measurement’, are we excising the long term? This event will explore suggestions for reforms of long term measures in finance.

 

Resources

More videos of this event

Conference slide set

Sponsors

   

Further reading

Jon Spain "The Long-Term Analysis of Investment Performance", The Investment Analyst, (October 1983)

Jon Spain "Long-term Returns Revisited", The Investment Analyst, (July 1984)

Jon Spain "Monitoring Investment Performance for Long-term Investors", The Investment Analyst, (April 1986)

Professional Standards work (Chartered Banker:Professional Standards Board) Annual Review 2013

Professional Standards work (Chartered Banker:Professional Standards Board)  Commitment

Professional Standards work (Chartered Banker:Professional Standards Board) Code of Professional Conduct

Professional Standards work (Chartered Banker:Professional Standards Board) Foundation Standard

Time

Conference 14:30 to 17:30
Reception 17:30 to 18:30

Speakers

Lady Susan Rice CBE, Lloyd's Banking Group

Anthony Hene, GMO

Professor Paul Woolley, London School of Economics

Kelly Clark, Marmanie

Professor Michael Mainelli, Z/Yen Group

Venue

King Edward Hall, Bank of America Merrill Lynch Financial Centre

Booking

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Links

Long Finance Conferences

Gresham College event page