The Rise of Asian Equity Markets and the International Corporate Governance Dialogue

While there is a growing debate in the United States about a shift from public equity markets to private ownership models, Asian stock exchanges are steaming ahead. Last year a record 1,074 companies got listed in the region, and 43 percent of all capital raised through primary equity markets globally went to Asian companies. This is more capital than U.S. and European companies raised combined  and more than double the share of the global total raised by Asian companies 20 years ago.

Figure 1. Equity financing raised in primary stock markets

Source: OECD Capital Market Series dataset.[1]

Needless to … Read more

Corporate Bonds, Bondholders and Corporate Governance

In recent years, corporate bond markets have become an increasingly important source of corporate finance, especially for non-financial companies. Given this worldwide trend, it is crucial for policy makers, regulators and market participants to have access to a comprehensive overview of corporate bond market developments and the structural issues accompanying these trends. In the recent OECD working paper entitled “Corporate Bonds, Bondholders and Corporate Governance”, we aim to serve this need by analysing more than 100,000 corporate bonds issued between 2000 and 2013 by companies from 108 different countries[1].

As depicted in Figure 1, the annual amount of … Read more