Are Superannuation Funds and Other Institutional Investors in Australia Acting Like 'Universal Investors'?

Journal of Industrial Relations, Vol. 51, No. 4, 2009

U of Melbourne Legal Studies Research Paper No. 463

43 Pages Posted: 22 Mar 2010 Last revised: 8 Apr 2010

See all articles by Shelley D. Marshall

Shelley D. Marshall

RMIT University

Kirsten Anderson

University of Melbourne - Law School

Ian Ramsay

Melbourne Law School - University of Melbourne

Abstract

This study investigates whether Australian superannuation funds and other institutional investors are concerned with the human resource management (HRM) and industrial relations (IR) practices of companies. It examines whether they use indicators of HRM or IR practices in their investment decisions and whether they attempt to influence these types of practices through other means, in the same way that investors are now doing so regarding corporate governance issues. The study finds there are embryonic signs of investors doing both. However, the ad hoc nature of engagement as well as significant information barriers, reduce the efficacy of this engagement.

Suggested Citation

Marshall, Shelley D. and Anderson, Kirsten and Ramsay, Ian, Are Superannuation Funds and Other Institutional Investors in Australia Acting Like 'Universal Investors'?. Journal of Industrial Relations, Vol. 51, No. 4, 2009, U of Melbourne Legal Studies Research Paper No. 463, Available at SSRN: https://ssrn.com/abstract=1570879

Shelley D. Marshall (Contact Author)

RMIT University ( email )

Melbourne Campus
Building 13
Melbourne, Victoria 3000
Australia
+613 99251382 (Phone)

HOME PAGE: http://www.rmit.edu.au

Kirsten Anderson

University of Melbourne - Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

Ian Ramsay

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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