Stakeholder representation on the boards of Australian initial public offerings

Dimovski, B and Brooks, R 2004, 'Stakeholder representation on the boards of Australian initial public offerings', Applied Financial Economics, vol. 14, no. 17, pp. 1233-1238.


Document type: Journal Article
Collection: Journal Articles

Title Stakeholder representation on the boards of Australian initial public offerings
Author(s) Dimovski, B
Brooks, R
Year 2004
Journal name Applied Financial Economics
Volume number 14
Issue number 17
Start page 1233
End page 1238
Total pages 6
Publisher Routledge
Abstract This paper analyses the board composition of Australian initial public offerings (IPOs) over the period 1994 to 1997. The recent management literature identifies a wide range of stakeholders beyond the traditional shareholders. Evan and Freeman, and Jones and Goldberg suggest that the importance of stakeholders should be reflected in board representation. Luoma and Goodstein provide evidence of increased stakeholder representation on the boards of American companies. This paper studies Australian IPOs and finds that this is not the case. This suggests that capital raising by new lists in the Australian equity market does not require stakeholder representation on the board.
Subject Financial Economics
DOI - identifier 10.1080/09603100410001692800
Copyright notice © 2004 Taylor and Francis Ltd
ISSN 0960-3107
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