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Benjamin Lay

Benjamin Lay

BCom (Hons) Sydney; LLB Sydney
MPhil Candidate

The University of Sydney
NSW 2006 Australia


Benjamin Lay completed his undergraduate studies at The University of Sydney before undertaking Honours in the Accounting discipline. His research explored the relationship between corporate social responsibility and tax avoidance. His main research interests are the accountability function of accounting information and the ethical conduct of corporations, primarily in the fields of executive remuneration and corporate taxation.

Thesis working title

Determinants of shareholder dissent on remuneration-related resolutions

The governments of several countries have recognised a need to regulate executive remuneration, introducing advisory shareholder voting on a corporation’s remuneration policy. However, in the last 5 years the Australian and UK governments have further strengthened their advisory ‘say on pay’ voting schemes by attaching legally enforceable consequences to resolutions on a corporation’s remuneration policy which attract a certain level of dissenting votes. This thesis aims to develop a quantitative model to predict the conditions under which the proportion of shareholders voting against a remuneration-related resolution will trigger the consequences specified under the Australian and UK schemes.

Supervisors: Sandra van der Laan, Stewart Jones