Listed Company Disclosure and Financial Market Transparency: Is this a Battle Worth Fighting or Merely Policy and Regulatory Mantra?

6 Journal of Business Law 486-513, 2014

Deakin Law School Research Paper No. 17-13

35 Pages Posted: 7 Nov 2016 Last revised: 22 Jul 2017

See all articles by Gill North

Gill North

Deakin University, Geelong, Australia - Deakin Law School

Date Written: 2014

Abstract

The government in the United Kingdom set up the Kay Review to examine and make recommendations relating to the equity market and its impact on the long-term competitive performance of businesses. The article considers the comments and recommendations dealing with corporate disclosure. It argues that public dissemination of listed company information is likely to be the optimal approach to enhance long-term corporate performance. Global empirical studies consistently suggest that regulation which promotes high quality disclosure standards in financial markets can greatly improve corporate, economic and community outcomes. It concludes that the Kay Review missed a valuable opportunity to focus on and prioritise measures to ensure the public disclosure and communication frameworks governing listed companies are the best they can be. While transparency in financial markets is easy to espouse, it is an ongoing endeavour that has to be robustly sought by every generation, by every nation and by entire communities.

Keywords: Accounting standards; Corporate governance; Disclosure; Financial markets; Financial reporting

Suggested Citation

North, Gill, Listed Company Disclosure and Financial Market Transparency: Is this a Battle Worth Fighting or Merely Policy and Regulatory Mantra? (2014). 6 Journal of Business Law 486-513, 2014; Deakin Law School Research Paper No. 17-13. Available at SSRN: https://ssrn.com/abstract=2848646 or http://dx.doi.org/10.2139/ssrn.2848646

Gill North (Contact Author)

Deakin University, Geelong, Australia - Deakin Law School ( email )

221 Burwood Highway
Burwood
Burwood, Victoria 3125, Victoria 3125
Australia

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