Corporate Governance Reform in Australia: A New Institutional Approach

Mees, B and Smith, S 2019, 'Corporate Governance Reform in Australia: A New Institutional Approach', British Journal of Management, vol. 30, no. 1, pp. 75-89.

Document type: Journal Article
Collection: Journal Articles

Title Corporate Governance Reform in Australia: A New Institutional Approach
Author(s) Mees, B
Smith, S
Year 2019
Journal name British Journal of Management
Volume number 30
Issue number 1
Start page 75
End page 89
Total pages 15
Publisher Wiley-Blackwell Publishing Ltd.
Abstract From an international perspective, Australia has been one of the leading jurisdictions for corporate governance reform. Its first corporate governance code predates the Cadbury Report, and Australia is also one of the few countries internationally to have been only marginally affected by the recession that ensued after the Global Financial Crisis. Considerable governance reform has occurred since 20078 in Australia, however; much of it occasioned by pressure brought to bear by institutional investors as a reaction to both traditional governance failings and also social and environmental concerns such as a growing awareness of climate change. Institutional influence is primarily associated with the compulsory retirement income system that emerged in the 1980s in light of an economy-wide union campaign. While governance structures are becoming more homogenous, institutional logics reflecting trustees concerns are driving and shaping this ongoing process. A new approach to corporate engagement has emerged under the influence of investor representative bodies such as the Australian Council of Superannuation Investors that is driving corporate governance change.
Subject Corporate Governance and Stakeholder Engagement
DOI - identifier 10.1111/1467-8551.12298
Copyright notice © 2019 British Academy of Management
ISSN 1045-3172
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