Australian Trade Unions as Shareholder Activists: The Rocky Path Towards Corporate Democracy

Rawling, MJ

Australian Trade Unions as Shareholder Activists: The Rocky Path Towards Corporate Democracy

Rawling, MJ

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Publisher:: Thomson Legal and Regulatory Ltd
Publication Type:: Journal Article
Citation:: Sydney Law Review, 2006, 28 pp. 227 - 258
Issue Date:: 2006-01

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Field	Value	Language
dc.contributor.author	Rawling, MJ https://orcid.org/0000-0002-0434-3452	en_US
dc.date.issued	2006-01	en_US
dc.identifier.citation	Sydney Law Review, 2006, 28 pp. 227 - 258	en_US
dc.identifier.issn	0082-0512	en_US
dc.identifier.uri	http://hdl.handle.net/10453/15972
dc.description.abstract	This article examines the use of the "100 shareholder rule' by trade unions to address the common concerns ofworkers and shareholders such as the work safety perfonnance of corporations. The shareholder action by the Transport Workers' Union at the 2003 Boral Annual General Meeting is used as an illustrative example of union shareholder activism. In light of the withdrawal ofconsultation with trade unions by way of labour law mechanisms, particularly tbe individualisation and union exclusion tbat has marked Australian workplace relations in recent years, shareholder activism is an important avenue for trade unions to pursue their concerns. Consequently, this article argues for maintaining the' 100 shareholder rule' (part of which is undcr threat by federal governl11ent proposals) pal1icularly so that it can continue to be used by worker shareholder groups. Two theories of the corporation - the director-centrcd stakeholder theory and the del110crutic theory - are considered as theoretical devices to .i ustify un ion shurcholder activism. It is argued that whilst both theories may huve some merit in this context, the democratic theory provides the best foundation for union shareholder activism.	en_US
dc.publisher	Thomson Legal and Regulatory Ltd	en_US
dc.relation.ispartof	Sydney Law Review	en_US
dc.title	Australian Trade Unions as Shareholder Activists: The Rocky Path Towards Corporate Democracy	en_US
dc.type	Journal Article
utslib.citation.volume	28	en_US
utslib.for	1801 Law	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	open_access
pubs.consider-herdc	false	en_US
pubs.volume	28	en_US

Abstract:

This article examines the use of the "100 shareholder rule' by trade unions to address the common concerns ofworkers and shareholders such as the work safety perfonnance of corporations. The shareholder action by the Transport Workers' Union at the 2003 Boral Annual General Meeting is used as an illustrative example of union shareholder activism. In light of the withdrawal ofconsultation with trade unions by way of labour law mechanisms, particularly tbe individualisation and union exclusion tbat has marked Australian workplace relations in recent years, shareholder activism is an important avenue for trade unions to pursue their concerns. Consequently, this article argues for maintaining the' 100 shareholder rule' (part of which is undcr threat by federal governl11ent proposals) pal1icularly so that it can continue to be used by worker shareholder groups. Two theories of the corporation - the director-centrcd stakeholder theory and the del110crutic theory - are considered as theoretical devices to .i ustify un ion shurcholder activism. It is argued that whilst both theories may huve some merit in this context, the democratic theory provides the best foundation for union shareholder activism.

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http://hdl.handle.net/10453/15972