IDEAS home Printed from https://ideas.repec.org/h/spr/csrchp/978-3-031-94751-3_8.html
   My bibliography  Save this book chapter

Australia

In: Corporate Governance in Capital Markets

Author

Listed:
  • Luis Felipe Orsatto

    (State University of Western Paraná)

  • Rafael Vaz Palmeira

    (University of Salamanca)

  • Sardar M. N. Islam

    (Victoria University)

Abstract

This chapter provides an analysis of corporate governance in Australia, focusing on its historical development, regulatory framework, and distinctive characteristics. We explore the evolution of corporate governance practices in Australia, highlighting key regulatory changes in response to corporate collapses in the early 2000s. The Australian corporate governance model aligns with the Anglo-American system but exhibits unique features, such as a strong presence of institutional investors, a relatively low ownership concentration, and an active role of unions in corporate oversight. We examine the role of the Australian Securities Exchange (ASX) as the country’s primary stock exchange and its governance codes, including the Corporate Governance Principles and Recommendations established by the ASX Corporate Governance Council. The regulatory landscape is also discussed, covering the responsibilities of the Australian Securities and Investment Commission (ASIC) and the Australian Prudential Regulatory Authority (APRA) in maintaining financial market stability. Furthermore, we assess the structure and functioning of the Australian capital market, shareholder system, and dividend policies, emphasizing the influence of corporate governance mechanisms on firm performance. Our analysis also extends to accounting and auditing standards, particularly the adoption of International Financial Reporting Standards (IFRS) and the role of the Australian Accounting Standards Board (AASB) in financial regulation. Lastly, we examine the governance structures of ASX-listed companies, including board composition, independence, and the role of key committees such as audit, risk, and remuneration committees. By integrating these dimensions, we provide key insights for further comparative research and policy discussions.

Suggested Citation

  • Luis Felipe Orsatto & Rafael Vaz Palmeira & Sardar M. N. Islam, 2025. "Australia," CSR, Sustainability, Ethics & Governance, in: Clea Beatriz Macagnan (ed.), Corporate Governance in Capital Markets, chapter 0, pages 191-212, Springer.
    • Handle: RePEc:spr:csrchp:978-3-031-94751-3_8
    DOI: 10.1007/978-3-031-94751-3_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:csrchp:978-3-031-94751-3_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.