The unitary implementation of corporate governance in Australia and its continuing relevance and fitness for purpose

Topic: The unitary implementation of corporate governance in Australia and its continuing relevance and fitness for purpose.

Presenter: Elizabeth Jameson, PhD candidate, TC Beirne School of Law

Advisors: AsPr David Morrison; Dr Vicky Comino

Venue: Board Room (Room W353), Forgan Smith

Time: 3.30 - 5.00pm Thursday, 10 October 2019

Abstract: Trust: its relevance to the legal design and operation of modern Australian company director fiduciary duties laws: This research project seeks to examine the adequacy of Australian company director duties laws to respond to expectations of trust placed on company directors today.  The external context for this project is that of eroding public trust in corporations, highlighted most recently in the evidence of misconduct which emerged at the public hearings of the Hayne Banking Royal Commission. This has led to renewed and vigorous debate concerning the continuing applicability of shareholder primacy in a world of wider stakeholder participation in the conduct of corporations.  In addressing the topic, the research will consider whether there is a place for understanding that debate, and the law of directors duties in Australia, through the lens of team production mediating hierarchy theory (Blair and Stout, 1999).  This theory seeks to balance shareholder wealth maximisation, as the prevailing norm for corporate decision-making, with the interests of other stakeholder groups.