Balancing act: stock exchanges and dual-class shares
As stock exchanges allow dual-class shares in a bid to attract new listings, investors worry they that represent a “watering down” of listing requirements.
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Stock exchanges form a critical component of the global financial market ecosystem, serving as gatekeepers linking companies to investors and as a platform for trading the securities of listed companies.
Investors, as providers of capital, are a key stakeholder base for stock exchanges, and in many areas investors and stock exchanges are aligned in their views about promoting the health of financial markets and the corporate governance of listed companies. But there are also potential areas of disconnect.
The International Corporate Governance Network’s 2018 conference in Milan featured a plenary session, including representatives from th
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