Ali, Ramsay & Saunders on Securities Lending

Paul Ali, Ian Ramsay, and Benjamin Saunders have posted Securities Lending, Empty Voting and Corporate Governance on SSRN with the following abstract:

This paper examines the corporate governance implications of securities loans, in particular the impact of securities loans on shareholders’ voting rights and the control of listed Australian companies. The paper considers whether the current regulatory framework for securities loans in Australia adequately addresses the concerns associated with securities loans and whether reform is required in order to protect the interests of shareholders in listed Australian companies and to ensure that the governance of these companies is not undermined by securities loans.