Mobilising ASEAN Capital Markets for Sustainable Growth.

Format:

Book

Author/Creator:

Organization for Economic Cooperation & Development, author.

Language:

English

Subjects (All):

Sustainable horticulture.

Physical Description:

1 online resource (133 pages)

Edition:

1st ed.

Place of Publication:

Paris : Organization for Economic Cooperation & Development, 2024.

Summary:

The ASEAN region's economic expansion has created significant financing needs among corporations and investment opportunities for households. This report aims to support ASEAN policy makers harness opportunities and address barriers in mobilising capital markets for sustainable growth and development in the region. It focuses on the functioning of capital markets and the corporate sector's use of market-based financing. It also examines current corporate governance regulatory frameworks, emerging artificial intelligence trends in finance, and sustainable finance developments with a focus on corporate sustainable bonds.

Contents:

Intro

Foreword

Acknowledgements

Abbreviations and acronyms

Executive summary

Policy considerations

The corporate landscape and the use of capital markets

Corporate governance policies and practices

Artificial intelligence in finance

Sustainable bond markets

1 Corporate landscape and the use of capital markets in ASEAN economies

1.1. Introduction

1.2. The use of market-based financing in ASEAN economies

1.3. Marketplaces for equity and corporate bonds in ASEAN economies

1.4. Corporate landscape in ASEAN economies

1.4.1. Capital structure

1.4.2. Profitability

1.4.3. Productivity and investment

1.5. ASEAN companies' use of public markets

1.5.1. Trends in the use of public equity markets

1.5.2. Trends in the use of corporate bonds

1.6. Selected issues in the public equity and corporate bond markets

1.6.1. Secondary stock market liquidity

1.6.2. Index inclusion of companies from ASEAN region

1.6.3. Credit assessment and quality in the corporate bond markets

1.6.4. Barriers to the development of corporate bond markets

1.7. Policy considerations

References

Notes

2 Corporate governance in ASEAN economies

2.1. Introduction

2.1.1. Ownership structure of ASEAN listed companies

2.1.2. Regional initiatives

2.2. Corporate governance policies and practices in ASEAN economies

2.2.1. Company groups

Group-wide risk management

Related party transactions

Disclosure concerning company groups

2.2.2. The role of institutional investors and stewardship

2.2.3. Corporate sustainability

Sustainability-related disclosure

Corporate sustainability disclosure requirements and recommendations

Consideration for flexibility for smaller listed companies

Phasing in of assurance of sustainability information

Board responsibilities.

2.2.4. General shareholder meetings

Giving shareholders sufficient time and information to prepare meetings

Providing proper identification of shareholders eligible for voting

Ensuring that shareholders' voting is counted properly and accurately

Encouraging companies to properly handle questions from shareholders

Encouraging the disclosure of voting and meeting results

2.2.5. The corporate board of directors

Board independence

Board-level committees

Board nomination and election

2.3. Policy considerations

3 Artificial intelligence (AI) and finance in ASEAN economies

3.1. Introduction

3.2. AI in finance: Asian trends

3.2.1. Using AI models to examine interest in AI in finance in major Asian economies

3.2.2. Evolution of sentiment on AI in Finance in Japan and Korea

3.2.3. Investment into AI and financial sector acquisitions of AI companies in Asia

3.3. Recent developments in AI: the advent of Generative Artificial Intelligence

3.3.1. Drivers of fast AI adoption in non-finance applications

3.3.2. Slow-paced deployment of advanced AI models in finance

3.3.3. Direct vs. indirect scope of use of AI in finance

3.4. Use cases of AI in finance and associated benefits for ASEAN countries

3.5. Risks and challenges of AI applications in finance

3.5.1. Lack of explainability

3.5.2. Risk of bias and discrimination

3.5.3. Data-related risks

3.5.4. Cyber-security risks

3.5.5. Model robustness and resilience, reliability of outputs and risk of market manipulation

3.5.6. Governance-related risks, accountability and transparency

3.5.7. Systemic risks: Herding and volatility, interconnectedness, concentration and competition

3.5.8. Other risks: employment and skills, environmental impact

3.6. Policy considerations on AI in finance.

3.6.1. Policy developments on AI in finance in ASEAN countries

3.6.2. Policy considerations and recommendations for the use of AI in Finance in ASEAN

4 Sustainable bonds: Trends and practices in ASEAN economies

4.1. Introduction

4.2. Overview of sustainable bonds in Asia

4.3. Trends in corporate sustainable bonds in Asia

4.4. Assessment of standards, KPIs and metrics underpinning sustainable bonds in Asia

4.4.1. Overview of the use of proceeds' stipulations and KPIs within sustainable bonds' contracts

4.4.2. Overview of international and Asia-specific frameworks proposing relevant requirements for sustainable bonds

4.4.3. Analysis of metric methodologies and their robustness in tailoring products

Quantitative metrics

Qualitative metrics

Methodologies to develop KPIs and metrics

4.4.4. Challenges and limitations

4.5. Policy considerations

Annex A. Methodology for data collection and classification

Balance sheet information for non-financial listed firms

Financial information cleaning

Industry classification

Listing information

Public equity data

Country coverage and classification

Exclusion criteria

Corporate bond data

Early redemption data

Rating data

MSCI data

Ownership data

Sentiment indices from the NLP work

Definition of AI sentiment and polarity indices

Choosing newspapers and webcrawling

Labelling and pre-processing

The BERT model and the sentiment scores

Sustainable bonds data and coverage

Notes.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9789264530508