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Publications & Documents


  • 19-September-2022

    English

    Corporate ownership and concentration

    This working paper documents the trends in the ownership structures of listed companies around the world and the rise in ownership concentration. It identifies three major trends in corporate ownership: the dominance of company group structures, in particular in a number of emerging markets; the growth of state ownership through various state controlled investors; and the re concentration of ownership in the hands of large institutional investors, in particular investors that follow passive index investment strategies. The paper also discusses the implications for corporate governance of corporate ownership by private companies, states and institutional investors in global public equity markets.

  • 19-September-2022

    English

    Institutional investors and stewardship

    The sustained growth of institutional investors’ assets under management, together with the growing use of passive investment strategies, raises the question of whether existing frameworks adequately address issues related to investor engagement and disclosure. There has been a growth in the regulation of institutional investors and market intermediaries to address conflicts of interest and to enhance their transparency. In parallel, the adoption of stewardship codes and the number of signatories to such codes has been increasing. Their proliferation and to some extent convergence offers insights on recognised good practices. The paper also explores the apparent increase in engagement among institutional investors with respect to environmental, social and governance (ESG) issues, their increasing reliance on ESG ratings and data services, and whether regulatory frameworks or guidance should evolve to take into account these new developments.

  • 15-September-2022

    English

    The role and rights of debtholders in corporate governance

    This paper provides an overview of developments in non-financial corporate bond markets over the past two decades with respect to their size and credit quality, as well as trends related to insolvency and restructuring. It then explores the role of bondholders in corporate governance, both in normal times and in times of financial distress, and the governance implications of longstanding increases in bond financing by the non-financial sector. In particular, challenges related to bondholder rights, corporate disclosure, the responsibilities of corporate boards, institutional investors and insolvency are discussed.

  • 15-September-2022

    English

    The role of board-level committees in corporate governance

    This paper presents a review of the different committees set up by the boards of directors of companies to support their functions. It first focuses on the role of and trends in board committees, their contribution to corporate governance and their evolving role in light of the impact of the COVID 19 crisis and emerging issues. It then addresses the functioning, composition and accountability of committees, notably in terms of risk management and sustainability, and their impact on the effectiveness of boards.

  • 23-August-2022

    English

    Responsible business conduct in the financial sector

    Promoting responsible business conduct in the financial sector is vital to building a sustainable global economy. Although the Guidelines’ due diligence recommendations can help financial institutions, the inherent complexities in the sector create challenges. This paper highlights key considerations for institutional investors in carrying out due diligence that will help to identify and respond to environmental and social risks.

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  • 29-July-2022

    English

    OECD Investment Policy Reviews

    These country reports present an overview of investment trends and policies in the countries reviewed. This can include investment policy, investment promotion and facilitation, infrastructure, competition policy, trade policy, tax policy, corporate governance, responsible business conduct, public governance, and human resources.

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  • 14-July-2022

    English

    G20/OECD Corporate Governance Forum

    14 July 2022 - The Forum will provide a platform for discussion among G20, OECD and FSB members on the ongoing review of the G20/OECD Principles of Corporate Governance. It will build upon the work already undertaken on the review since its launch in November 2021, and will inform the next steps of the process.

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  • 13-July-2022

    English, PDF, 2,339kb

    OECD Secretary-General’s Report to G20 Finance Ministers and Central Bank Governors on the Review of the G20/OECD Principles of Corporate Governance

    This report provides an update on progress of the review of the G20/OECD Principles since the Finance Ministers and Central Bank Governors (FMCBG) meeting in February 2022, including on first draft revisions. The report “Climate Change and Corporate Governance” prepared to inform the review is annexed. The review will continue throughout 2022 and the revised Principles are expected to be delivered in 2023.

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  • 28-June-2022

    English

    OECD Capital Market Review of Romania

    As part of the OECD Capital Market Review of Romania, this Mapping Report is the first step towards building a diagnostic of the Romanian capital markets. It provides a comprehensive review of their current state, both before and during the COVID-19 crisis, by offering detailed data and analysis on the Romanian corporate landscape as well as the public equity, corporate bond and private equity markets.

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  • 27-June-2022

    English

    Capital Market Review of Romania - Towards a National Strategy

    This publication provides a comprehensive overview of capital markets in Romania, focusing on conditions for stock market listing, secondary stock market liquidity, growth markets, modalities for household savings, institutional investors and market-based debt financing. It underlines potential areas for reform and suggests policy actions that could help Romanian authorities improve the legal, regulatory and institutional framework for capital markets and ultimately prepare a national capital market strategy.
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