Subscribe to News
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  | 

Shareholder Importance in Corporate Activity - Discussion Paper


Wednesday, 19th November 2014 at 11:41 am
Xavier Smerdon
A new Australian Discussion Paper by the Governance Institute explores the means by which society’s expectations in relation to moderating the influence of corporate activity on the community and environment can best be met.

Wednesday, 19th November 2014
at 11:41 am
Xavier Smerdon


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Shareholder Importance in Corporate Activity - Discussion Paper
Wednesday, 19th November 2014 at 11:41 am

A new Australian Discussion Paper by the Governance Institute explores the means by which society’s expectations in relation to moderating the influence of corporate activity on the community and environment can best be met.

The Paper says that despite the prevalence of the use of the term social licence to operate, the law does not contain an explicit statement of either the societal purpose of companies or what the interests of the corporation are.

“Governance Institute’s mission to promote and advance the effective governance of organisations in the private and public sectors,” National Director, Policy & Publishing Governance Institute of Australia, Judith Fox said.

“A strong governance framework facilitates a strong economy.

“We established a panel of pre-eminent 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  the discussion paper to provide a framework for discussion and stimulate debate about whether shareholder primacy should be retained or stakeholder interests become equally privileged.

“The discussion paper, Shareholder primacy: Is there a need for change?, examines the misalignment that is often experienced between societal expectation and the impact of corporate activity.

“The paper queries whether the explicit objectives of a company should be solely about shareholders; whether the current law constrains a broader view of the best interests of the company; whether a wider view in law is required; and whether greater certainty is required as to the operation of the law in regard to shareholder primacy.”

Submissions close on 5 December 2014. Go to governanceinstitute.com.au


Xavier Smerdon  |  Journalist  |  @XavierSmerdon

Xavier Smerdon is a journalist specialising in the Not for Profit sector. He writes breaking and investigative news articles.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Radiohead hack aids action on climate change

Maggie Coggan

Saturday, 15th June 2019 at 12:00 pm

UK aspires to become global impact investing hub

Luke Michael

Friday, 14th June 2019 at 4:52 pm

Why an AAT ruling could shake-up NDIS funding

Luke Michael

Friday, 14th June 2019 at 4:16 pm

POPULAR

Dealing with the trauma of youth homelessness

Luke Michael

Monday, 3rd June 2019 at 4:36 pm

Setting Aussie kids up for success

Luke Michael

Wednesday, 5th June 2019 at 4:13 pm

UK inquiry finds Oxfam failed to act on child sex abuse claims

Luke Michael

Wednesday, 12th June 2019 at 5:26 pm

subscribe to careers
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!