Closed and Private Company Briefings: Justifiable or Unfair?

(2008) 26 Company and Securities Law Journal 501

UWA Faculty of Law Research Paper

15 Pages Posted: 14 Jan 2014

See all articles by Gill North

Gill North

Deakin University, Geelong, Australia - Deakin Law School

Date Written: 2008

Abstract

Most listed Australian companies hold briefings for investors following major announcements. The information provided at these briefings can be easily and cheaply disseminated to all stakeholders using webcasting and teleconference calls. However, most Australian listed companies continue to provide briefing information to investors on an invitation-only basis. This article argues for regulation requiring open access for investors to major company briefings in Australia similar to Regulation Fair Disclosure in the United States. Empirical studies on company briefings generally suggest or infer that an open access policy enhances economic efficiency and market fairness through information asymmetry reductions.

Suggested Citation

North, Gill, Closed and Private Company Briefings: Justifiable or Unfair? (2008). (2008) 26 Company and Securities Law Journal 501; UWA Faculty of Law Research Paper. Available at SSRN: https://ssrn.com/abstract=2378182

Gill North (Contact Author)

Deakin University, Geelong, Australia - Deakin Law School ( email )

221 Burwood Highway
Burwood
Burwood, Victoria 3125, Victoria 3125
Australia

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