Book Launch: The Responsible Shareholder

Author: Emeritus Professor Stephen Bottomley FAAL

Speaker: The Hon Justice Lucy McCallum, Chief Justice of the Supreme Court of the ACT

Speaker: Professor Sally Wheeler OBE, MRIA, FAcSS, FAAL, Dean of the ANU College of Law

Chair: The Hon Mary Finn FAAL

About the book: Examining the role of shareholders in modern companies, this timely book argues that more should be expected of shareholders, both morally and legally. It explores the privileged position of shareholders within the corporate law system and the unique rights and duties awarded to them in contrast to other corporate actors. Introducing the concept of shareholders as responsible agents whose actions and inactions should be judged on that basis, Stephen Bottomley unites a number of distinct corporate governance discussions including stewardship, activism and shareholder liability. This book argues that when companies cause harm to the environment, inflict injury on workers, or commit financial fraud, it is not just the action of the directors, managers, advisers or regulators that should be scrutinized. Instead of consigning shareholders to a passive or marginal role in the drive for greater corporate responsibility, this book recommends that it is time to hold this key constituency in the company decision-making structure accountable. Comparative and interdisciplinary, this book will be of interest to scholars of corporate law, governance and business law. It will also be of value to company law policy makers and think tanks engaged in corporate law reform.