Shareholder Protection in Australia: Institutional Configurations and Regulatory Evolution
51 Pages Posted: 1 Sep 2014 Last revised: 10 May 2016
Date Written: September 1, 2014
Various explanations have been advanced for why shareholder protection looks the way that it does. These explanations include varieties of capitalism, legal origins and various configurations of social interests. When compared with the United States and the United Kingdom, Australian corporate law appears on its face to be strongly protective of shareholders. However, when trying to explain the relative strength of Australian corporate law, we find that none of the theories advanced appear to be satisfactory. Our analysis of the development of shareholder protection laws in Australia indicates that the Australian experience is not easily located within the broad theories that seek to classify countries according to matters such as types of capitalism, legal origins or political orientation.
Suggested Citation: Suggested Citation