Irresponsible Engagement and the Citizen Investor

Abstract

The study investigates how shareholders are constructed and engaged with through public relations in the Australian financial sector. The web sites and annual and sustainability reports of major Australian companies and investment funds were examined through qualitative content analysis. Findings indicate that a hierarchical distinction exists within the discrete but amorphous stakeholder group known as shareholders, where privilege and disadvantage exist alongside disparate levels of power and agency. This is perpetuated by and through irresponsible public relations, which constructs a discourse of ownership that excludes citizens as legitimate stakeholders limiting their capacity to influence more ethical corporate decisions and practices. Recommendations are offered for how public relations might engage shareholders more responsibly.