10 June 2013, Rome
The OECD Corporate Governance Committee agreed to launch the project Corporate Governance, Value Creation and Growth which started in 2013 and will run over two years. The inquiry is primarily focused on how a decade of rapid changes in the way financial markets and corporations function has affected the conditions for public policy in the field of corporate governance. The project will map changes in the structure and functioning of equity markets that may influence its role as capital provider to growth companies. It will address developments in ownership structures at company level and the implications of changes in intermediary ownership, new investment strategies and trading practices. The results will provide fact-based analytical input to the upcoming review of the OECD Principles.
The expert meeting in Rome provided input to some of the work that is now underway. Notably it discussed how changes in the structure and functioning of equity markets have affected the use of primary equity markets, investor confidence and the economic incentives among shareholders to engage in informed governance. The meeting also addressed the growing importance of emerging markets; their opportunities and challenges and the implications of a growing number of companies with controlling owners worldwide.
Making Stock Markets Work to Support Economic Growth, by David Weild, Edward Kim and Lisa Newport
One Size for All? – The European Union Experience, by Rolf Skog
Who Cares? Corporate Governance in Today’s Equity Markets, by Mats Isaksson and Serdar Celik