From an international perspective, Australia has been one of the leading jurisdictions for corporate governance reform. Its first corporate governance code predates the Cadbury Report, and Australia is also one of the few countries internationally to have been only marginally affected by the recession that ensued after the Global Financial Crisis. Considerable governance reform has occurred since 2007–8 in Australia, however; much of it occasioned by pressure brought to bear by institutional investors as a reaction to both traditional governance failings and also social and environmental concerns such as a growing awareness of climate change. Institutional influence is primarily associated with the compulsory retirement income system that emerged in the 1980s in light of an economy‐wide union campaign. While governance structures are becoming more homogenous, institutional logics reflecting trustees’ concerns are driving and shaping this ongoing process. A new approach to corporate engagement has emerged under the influence of investor representative bodies such as the Australian Council of Superannuation Investors that is driving corporate governance change.

Item Type:	Refereed Article
Keywords:	corporate governance, superannuation funds, sustainability reporting, board diversity, CEO salaries
Research Division:	Commerce, Management, Tourism and Services
Research Group:	Strategy, management and organisational behaviour
Research Field:	Corporate governance
Objective Division:	Commercial Services and Tourism
Objective Group:	Financial services
Objective Field:	Superannuation and insurance services
UTAS Author:	Mees, B (Dr Bernard Mees)
ID Code:	130534
Year Published:	2019
Web of Science® Times Cited:	16
Deposited By:	TSBE
Deposited On:	2019-01-31
Last Modified:	2020-07-29
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