Shareholder primacy: Is there a need for change?
As part of Governance Institute’s mission to promote and advance the effective governance of organisations in the private and public sectors, we are committed to bringing ideas to the table that contribute to Australia’s governance framework.
We established a panel of leading industry experts, the Governance Advisory Panel, with the objective of fostering frank and robust discussion about the future of governance and what could be done to drive improvements in policy and practice. In 2013 the Panel recommended that Governance Institute should explore with stakeholders the issue of shareholder primacy, to assess how the shareholder primacy rule should be positioned in the 21st century and if greater certainty needs to be introduced to the operation of the law in this regard.
We have issued a discussion paper that examines the misalignment that is often experienced between societal expectation and the impact of corporate activity.
Responses from consultation
- Australian Institute of Company Directors
- Australian Shareholders’ Association
- Corrs Chambers Westgarth Lawyers
- CPA Australia
- Dr Geoff Edwards, Centre for Governance and Public Policy, Griffith University
- Duncan Ramsay FGIA
- John B Ryan, School of Accounting and Finance, University of Wollongong
- Law Society of NSW Young Lawyers: Animal Law Committee and Environment and Planning Committee
- Department of Accounting and Corporate Governance, Faculty of Business and Economics, Macquarie University
- The KBA Consulting Group