Long-term investment, the cost of capital and the dividend and buyback puzzle, Adrian Blundell-Wignall and Caroline Roulet, May 2013
Public consultation on draft high-level principles on long-term investment financing by institutional investors
Deadline for comment: 24 May 2013
Report to G20 on the role of banks, equity markets and institutional investors in long-term financing for growth and development (pdf)
More about G20-OECD work on long-term financing
OECD PROJECT ON INSTITUTIONAL INVESTORS AND LONG-TERM INVESTMENT
The increasingly short supply of long-term capital since the 2008 financial crisis has profound implications for growth and financial stability. The aim of this project is to facilitate long-term investment by institutional investors such as pension funds, insurance companies, and sovereign wealth funds, addressing both potential regulatory obstacles and market failures.
Why is long-term investment important?
Patient capital allows investors to access illiquidity premia, lowers turnover, encourages less pro-cyclical investment strategies and therefore higher net investment rate of returns and greater financial stability.
Engaged capital encourages active voting policies, leading to better corporate governance.
Productive capital provides support for infrastructure development, green growth initiatives, SME finance etc., leading to sustainable growth.
Overview brochure (pdf)
Project Update, December 2012 (pdf)
Detailed project description, February 2012 (pdf)
Project background: Promoting longer-term investment by institutional investors: selected issues and policies, 2011 (pdf)
OECD Conference Centre, Paris
28 May 2013
InterContinental Hotel Le Grand, Paris
29 May 2013
Access the data and policy research related to this project.
Information about events related to this project.