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  • 2020-2024  (3)
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  • 1
    Language: English
    Pages: 1 Online-Ressource (37 p.) , 21 x 28cm.
    Series Statement: OECD Corporate Governance Working Papers no.23
    Keywords: Finance and Investment ; Governance
    Abstract: 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.
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  • 2
    Language: English
    Pages: 1 Online-Ressource (21 p.) , 21 x 28cm.
    Series Statement: OECD Corporate Governance Working Papers no.25
    Keywords: Finance and Investment ; Governance
    Abstract: 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.
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  • 3
    Language: English
    Pages: 1 Online-Ressource (21 p.) , 21 x 28cm.
    Series Statement: OECD Corporate Governance Working Papers no.26
    Keywords: Finance and Investment ; Governance
    Abstract: This paper addresses the implications of digitalisation on corporate governance. It focuses in particular on the potential for digitalisation to improve market supervision and enforcement of corporate governance related requirements and the efficiency of disclosure; its use for remote and hybrid participation in general shareholder meetings; the implications of digital security risks and the role of the board in their management; and how digitalisation can encourage the development of primary public equity markets.
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