Proxy Voting in Australia's Largest Companies

45 Pages Posted: 17 Jul 2009

See all articles by Geofrey P. Stapledon

Geofrey P. Stapledon

University of Melbourne - Law School

Sandy Easterbrook

affiliation not provided to SSRN

Ian Ramsay

Melbourne Law School - University of Melbourne

Date Written: May 29, 2000

Abstract

This research report, published jointly by the Centre for Corporate Law and Securities Regulation at the University of Melbourne and Corporate Governance International, contains the results of a study of proxy voting at a sample of major listed Australian companies during 1999.

When institutional shareholders do vote, they typically do so by way of appointment of proxies. This study examined lodgment of proxy instructions for annual general meetings of large Australian listed companies as a means of determining the extent to which institutional investors vote.

The report: (a) presents and analyses voting figures on the election and re-election of directors – including total figures and also a breakdown of votes for, against, abstaining and discretionary; (b) presents and analyses voting figures on controversial resolutions; (c) provides separate figures for widely held companies and companies having a large shareholder; (d) provides comparisons with figures for the US, the UK and Germany; (e) discusses the regulatory and practical framework within which voting takes place; and (f) discusses the role of shareholder voting as a corporate governance mechanism.

Suggested Citation

Stapledon, Geofrey P. and Easterbrook, Sandy and Ramsay, Ian, Proxy Voting in Australia's Largest Companies (May 29, 2000). Available at SSRN: https://ssrn.com/abstract=1435175

Geofrey P. Stapledon

University of Melbourne - Law School ( email )

Victoria 3010
Australia
+61 3 8344 8916 (Phone)
+61 3 8344 9971 (Fax)

Sandy Easterbrook

affiliation not provided to SSRN ( email )

Ian Ramsay (Contact Author)

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

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