Kay Review: Difference between revisions
imported>Doug Williamson (Updated to note final Kay Report of July 2012 and Govt response of November 2012.) |
imported>Doug Williamson (Standardise capitalisation of UK government.) |
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A government sponsored review into UK equity markets | A government sponsored review into UK equity markets set up in 2011 and led by Professor John Kay. | ||
The review was established to ask how well equity markets are achieving the following core purposes: | The review was established to ask how well equity markets are achieving the following core purposes: | ||
#Enhancing the performance of UK companies by facilitating investment and enabling effective governance and decision making in support of long-term profitability and growth; and | |||
#Enabling investors to benefit from this corporate activity in the form of returns from equity investment. | |||
The review was designed assess to what extent equity market participants are excessively focused on short-term outcomes to the detriment of the core purposes (1. and 2. noted above) and if so, what actions should be taken to address this problem. | The review was designed assess to what extent equity market participants are excessively focused on short-term outcomes to the detriment of the core purposes (1. and 2. noted above) and if so, what actions should be taken to address this problem. | ||
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It therefore examines the incentives, motivations and timescales of the following participants in the equity markets – end investors, pension funds, advisers, fund managers, the market and company boards – and also the relationships between them. | It therefore examines the incentives, motivations and timescales of the following participants in the equity markets – end investors, pension funds, advisers, fund managers, the market and company boards – and also the relationships between them. | ||
The Kay Report | |||
The Kay Report, published in 2012 was welcomed, by the UK government in its response of the same year. | |||
Implementation of the recommendations continues to be monitored. | |||
== See also == | == See also == | ||
* [[Corporate governance]] | * [[Corporate governance]] | ||
* [[Equity]] | * [[Equity]] | ||
====Other links==== | |||
[https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/367070/bis-14-1157-implementation-of-the-kay-review-progress-report.pdf Building a culture of long-term equity investment - Implementation of the Kay Review:Progress Report, Oct 2014] | |||
[[Category:Corporate_finance]] | |||
Latest revision as of 13:23, 22 November 2017
A government sponsored review into UK equity markets set up in 2011 and led by Professor John Kay.
The review was established to ask how well equity markets are achieving the following core purposes:
- Enhancing the performance of UK companies by facilitating investment and enabling effective governance and decision making in support of long-term profitability and growth; and
- Enabling investors to benefit from this corporate activity in the form of returns from equity investment.
The review was designed assess to what extent equity market participants are excessively focused on short-term outcomes to the detriment of the core purposes (1. and 2. noted above) and if so, what actions should be taken to address this problem.
It therefore examines the incentives, motivations and timescales of the following participants in the equity markets – end investors, pension funds, advisers, fund managers, the market and company boards – and also the relationships between them.
The Kay Report, published in 2012 was welcomed, by the UK government in its response of the same year.
Implementation of the recommendations continues to be monitored.
See also
