More disclosures tied to value creation could be just the ‘culture shock’ the market needs
Entrenched mindsets that fester in short-term thinking about corporate governance could exact a steep cost
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[SINGAPORE] When the market regulator proposed enhanced disclosures by company boards to promote value creation and investor engagement, murmurs of push-back predictably started to echo through the financial district.
This is understandable. Deep-seated corporate behaviour and entrenched cultures are incredibly difficult to shake – and for years, segments of the local market have operated comfortably behind closed doors, treating executive compensation as a private matter divorced from long-term shareholder returns.
While the reaction to the proposals to raise standards for transparency is entirely expected, it is also fundamentally wrong.
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