Relative to many other countries, even after adjusting for the relative size of our economy, New Zealand has few very large firms, and a considerable share of our largest firms are either government or co-operative owned, or controlled by offshore owners. In each of these cases, there is relatively limited participation in local capital markets".
Wednesday, 27 January 2010
New Zealand: final report published by Capital Market Development Taskforce
Last month the Capital Market Development Taskforce published its final report in which it made wide-ranging recommendations for the better functioning of New Zealand's financial system: see here (pdf). An executive summary is available here (pdf). Amongst the research papers prepared for the Taskforce was one on the structure and ownership of New Zealand companies - available here - which reports (to quote directly from its conclusion):
Labels:
banks,
co-operative,
financial regulation,
new zealand,
share capital,
shareholder
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