FINANCIAL TIMES ARTICLE

Headwinds batter equity markets

21 April 2013 - John Plender is worried about the
decline in developed-world IPOs

Is the boom in initial public offerings in the first three months of this year a mere flash in the pan? With the big central banks continuing to pump liquidity into the markets, a negative verdict might seem premature.

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A key policy objective of corporate governance is to make sure that the financial sector can serve the needs of the real economy; that savings are available and effectively channeled to corporations that need capital for innovation, job creation and growth. Corporate governance is therefore an integral part of any policy for economic development and social progress. Today, however, the relevance of existing approaches to corporate governance are challenged by fundamental developments in financial markets and corporate practices. These changes include an increase in financial intermediation, the appearance of new instruments like exchange traded funds, larger private pools of capital, shifts in global wealth and a growing importance of human capital and intangible assets in individual firms.

The Corporate Governance, Value Creation and Growth Initiative was launched in 2013 by the OECD Corporate Governance Committee. This initiative will address how better corporate governance policies can support corporate access to capital, value creation and economic growth. The work is carried out in close co-operation with policy-makers, the business community, investors, academics and other key stakeholders. Special attention will be given to emerging markets. 

Meetings

Roundtable on Corporate governance, value creation and growth
Istanbul, 1 February 2012

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Who Cares? Corporate Governance in
Today's Equity Markets, April 2013

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Corporate governance, value creation and growth: the bridge between finance and enterprise, 2012