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Stakeholder representation on the boards of Australian initial public offerings

journal contribution
posted on 2004-11-01, 00:00 authored by Bill Dimovski, R Brooks
This paper analyses the board composition of Australian initial public offerings (IPOs) over the period 1994 to 1997. The recent management literature identifies a wide range of stakeholders beyond the traditional shareholders. Evan and Freeman, and Jones and Goldberg suggest that the importance of stakeholders should be reflected in board representation. Luoma and Goodstein provide evidence of increased stakeholder representation on the boards of American companies. This paper studies Australian IPOs and finds that this is not the case. This suggests that capital raising by new lists in the Australian equity market does not require stakeholder representation on the board.

History

Journal

Applied financial economics

Volume

14

Issue

17

Pagination

1233 - 1238

Publisher

Routledge

Location

London, England

ISSN

0960-3107

eISSN

1466-4305

Language

eng

Notes

Online Publication Date: 15 November 2004

Publication classification

C1 Refereed article in a scholarly journal

Copyright notice

2004, Taylor & Francis

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