Shareholder Protection in Australia: Institutional Configurations and Regulatory Evolution

51 Pages Posted: 1 Sep 2014 Last revised: 10 May 2016

See all articles by Richard Mitchell

Richard Mitchell

Monash University - Department of Business Law & Taxation

Anthony O'Donnell

La Trobe Law School

Ian Ramsay

Melbourne Law School - University of Melbourne

Michelle Anne Welsh

Monash Business School

Multiple version iconThere are 2 versions of this paper

Date Written: September 1, 2014

Abstract

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

Mitchell, Richard James and O'Donnell, Anthony and Ramsay, Ian and Welsh, Michelle Anne, Shareholder Protection in Australia: Institutional Configurations and Regulatory Evolution (September 1, 2014). Melbourne University Law Review, Vol. 38, No. 1, pp. 68-118, 2014. Available at SSRN: https://ssrn.com/abstract=2489807

Richard James Mitchell

Monash University - Department of Business Law & Taxation ( email )

Caulfield Campus
Sir John Monash Drive
Caulfield East, Victoria 3084
Australia

Anthony O'Donnell

La Trobe Law School ( email )

La Trobe University
Bundoora, VIC 3083 3142
Australia
03 9479 1256 (Phone)

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

Michelle Anne Welsh

Monash Business School ( email )

Wellington Road
Clayton, Victoria 3168
Australia

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