- Recent developments (as of June 2025)
- Global markets and public equity ownership 2.2. Public equity ownership by investor category 2.3. Ownership concentration by market
- Corporate governance and institutional framework
- The rights of shareholders and key ownership functions
- The board of directors
- Corporate sustainability
OECD Corporate Governance Factbook 2025: Denmark
Table of contents
This Country Note consolidates information published in the 2025 edition of the OECD Corporate Governance Factbook. Along with the summary of recent developments, it provides an overview of Denmark’s corporate governance framework and related information benchmarked against 51 other jurisdictions covered by the Factbook, including all OECD and G20 members.
The information in this document is as of 31 December 2024 unless otherwise specified.
For further details, please refer to the OECD Corporate Governance Factbook 2025.
In May 2023, the Danish Financial Supervisory Authority (DFSA) published guidance on the disclosure of inside information regarding management changes. The purpose of the guidance is to clarify what the DFSA emphasises when assessing whether a management change constitutes inside information, when in the process such inside information arises, and whether it is possible to delay the disclosure of inside information.
In December 2024, the DFSA presented its new strategy until 2030, under which the DFSA will work on regulatory simplification by reducing administrative burdens for financial undertakings and listed companies. As part of these efforts, the DFSA has raised the threshold for reporting transactions by managers from EUR 20 000 to EUR 50 000, has increased the prospectus threshold from EUR 8 million to EUR 12 million, and lowered the requirement to issuers for the number of shares in free circulation among public investors (“free float”) from 25% to 10%. These changes stem from the adoption of the Listing Act.
In June 2025, amendments were made to the Danish Financial Business Act and other financial sector regulations, enabling competent authorities to impose administrative pecuniary sanctions for breaches of certain parts of the Sustainable Finance Disclosure Regulation (SFDR), the ESG Rating Regulation and the Crowdfunding Regulation, thereby granting the necessary powers to fulfil their functions under the regulation.
The same legislative amendments also implemented requirements for financial institutions to develop and monitor ESG transition plans in accordance with the amended EU Accounting Directive.
|
No. of listed companies in Dec 2024 |
Change since Dec 2021 |
Market capitalisation in Dec 2024 |
Ratio to GDP |
||
|---|---|---|---|---|---|
|
Denmark |
125 |
|
4.2% |
USD 643 bn |
149.8% |
|
OECD members |
21 618 |
|
4.3% |
USD 92 518 bn |
136.5% |
|
World |
46 086 |
|
11.3% |
USD 124 536 bn |
112.7% |
Note: “World” covers 98 jurisdictions. “OECD members” covers 38 countries.
Source: OECD Capital Market Series Dataset. IMF.
Source: OECD Capital Market Series Dataset.
Source: OECD Capital Market Series Dataset.
The categories that the jurisdiction fits into are highlighted in blue.
The bold numbers and words indicate country-specific additional information.
The numbers within parentheses indicate the number of jurisdictions applicable to each category.
For further information on the methodologies used for the categorisations, please see the OECD Corporate Governance Factbook 2025.
* Some jurisdictions belong to multiple categories because of the additional requirements other than a percentage of shareholding.
* Although companies are required to disclose their financial statements in accordance with IAS 24, there are no additional requirements for periodic disclosure of RPTs.
* Jurisdictions where mandatory takeover bid rules exist are included.
** Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.