The Reserve Bank’s Term Funding Facility was meant to support lending during COVID. Instead the funds might be ending up in the accounts of bank shareholders.
By raising funds the way they do, companies deplete the wealth of shareholders who didn’t take part.
Executives are often given bonuses that “vest” on a particular date. If the share price is high on that date, regardless of the reason, they get payouts.
Our super funds could have cleaned up when the market crashed 40% and then rebounded by about as much. That they didn’t says a lot about how hard it is to time trades.
Michael Douglas in Wall Street: Money Never Sleeps (2010)
Chief executives have moved on from buying while spreading bad news. They’re buying while spreading uncertainty.
The coronavirus stock market crash is more jumpy, and harder to rein in, in part because of the role of retirees.
The Federal Court found although Myer misled shareholders, shareholders weren’t fooled.
Myer misled the market, but the market didn’t believe it. The judgment provides a road map for future class actions.
Most of Australia’s biggest companies are majority-owned by US investors.
Most of Australia’s biggest companies are majority-owned by US investors. This concentration of overt foreign influence should concern us.
We are being sucked in to something Trump started.
Australia has more to fear than most countries from a global trade and currency war. All eyes will be on the Reserve Bank governor Friday as he attempts to outline what might happen.
Words are the most you can expect when boards regulate themselves.
The ASX was late to the corporate governance party and its fourth reheat remains as flawed as ever.
The concept of a social licence is real, but proved too much for the Australian Securities Exchange.
The reality is that companies are at risk without a social licence to operate, so why shy away from the term?
National Australia Bank was the only bank singled out for direct criticism on Monday, yet its share price jumped 4%.
Bank shares soared 4% to 7% after the royal commission report. That could be because it will do them little harm.
New AMP chair David Murray has triggered an important debate about ASX corporate governance principles.
The corporate sector owes David Murray a debt of gratitude for starting a debate about ASX governance rules that lead boards to delegate matters that are properly their responsibility.
Businesses who pay dividends to shareholders with tax credits attached pay more tax, new research finds.
Prolonged periods of low volatility provide ample opportunity for investors to become complacent about risk, and increase the prospect of sharp market corrections.
Volatility indexes show that investors have been complacent about the risk of a share market correction.
Reporting on the sustainable development goals should not simply be a tick box exercise for business.
It seems there is a gap between what companies publicly assume or state they are doing with the sustainable development goals and what they are actually doing.
While everyone has heard of Bitcoin, the real potential in the blockchain is only just starting to be unlocked.
ASX took a wrong bet with Blockchain.
What a difference a year makes. In January 2016, ASX was bathing in the warm glow of having been acclaimed by Blythe Masters, an American super saleswoman and head of a Blockchain start-up called Digital…
They might seem innocuous, but tweets can have very real effects on company stock prices.
Social media communication like Twitter can influence investor decisions in an unequal way and whether the company intends it or not, research finds.
Australian banks improved their efficiency after the introduction in 2003 of the ASX Principles of Good Corporate Governance, which aimed for improved governance mechanisms and thus better control over bank management.
AAP Image/Paul Miller
Good corporate governance is good for efficiency and profit in banks. But having independent board members and the number of board meetings don’t play a role, research shows.