{"id":6314,"date":"2021-07-01T17:02:00","date_gmt":"2021-07-01T17:02:00","guid":{"rendered":"https:\/\/miranda-partners.com\/?p=6314"},"modified":"2021-07-01T22:59:38","modified_gmt":"2021-07-01T22:59:38","slug":"el-futuro-del-gobierno-corporativo-de-acuerdo-con-la-ocde","status":"publish","type":"post","link":"https:\/\/miranda-partners.com\/es\/the-future-of-corporate-governance-according-to-the-oecd\/","title":{"rendered":"El futuro del gobierno corporativo (de acuerdo con la OCDE)"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"6314\" class=\"elementor elementor-6314\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-7d4e739 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d4e739\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-edac1f4\" data-id=\"edac1f4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-921dbc0 elementor-widget elementor-widget-text-editor\" data-id=\"921dbc0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-weight: 400;\">Esta semana la OCDE public\u00f3 un reporte llamado\u00a0<a href=\"https:\/\/www.oecd-ilibrary.org\/sites\/efb2013c-en\/index.html?itemId=\/content\/publication\/efb2013c-en\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.oecd-ilibrary.org\/sites\/efb2013c-en\/index.html?itemId%3D\/content\/publication\/efb2013c-en&amp;source=gmail&amp;ust=1625262626081000&amp;usg=AFQjCNFQ0dUcXRTFTy3S7ELOgljxJeYR5A\">El Futuro del Gobierno Corporativo en los Mercados de Capitales Despu\u00e9s de la Crisis de COVID-19<\/a>. Creemos que contiene datos y reflexiones muy interesantes que pueden ayudarnos a pensar en las cosas que podr\u00edan cambiar en los pr\u00f3ximos a\u00f1os por diversas razones, incluyendo la pandemia. A continuaci\u00f3n presentamos lo que, en nuestra opini\u00f3n, son los 10 aspectos m\u00e1s destacados del reporte:<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><ul><li style=\"font-weight: 400;\">\u201c\u2026the road to recovery will require well-functioning capital markets that can allocate substantial financial resources for long-term investments and a corporate governance framework that gives investors, executives, corporate directors and stakeholders the tools and incentives needed to make sure that corporate practices are adapted to the post-COVID-19 reality.\u201d<\/li><li style=\"font-weight: 400;\">\u201cAs the pandemic highlights new experiences with respect to ESG risk factors, companies should ensure that they have the expertise, information channels, analytical tools, and internal policies and practices that are specifically tailored to assessing their ESG risk factors.\u201d<\/li><li style=\"font-weight: 400;\">\u201cCorporate boards should demonstrate a leadership role to ensure that effective means of environmental, social and governance risk oversight are in place\u2026\u201d<\/li><li style=\"font-weight: 400;\">\u201cWith respect to shareholder meetings, countries should benefit from experiences during the COVID-19 crisis in order to advance or clarify their regulatory frameworks for remote participation. This should improve the possibilities for all shareholders to follow the meeting and as appropriate pose questions to corporate officers.\u201d<\/li><li style=\"font-weight: 400;\">\u201c\u2026there are also concerns that companies are adapting the conditions for executive bonus programmes, switching performance metrics and ignoring missed targets in order to evade or mitigate otherwise unavoidable reductions in executive pay resulting from the pandemic.\u201d<\/li><li style=\"font-weight: 400;\">\u201c\u2026there has been an increase in ownership concentration at the company level in global stock markets\u2026 the three largest institutional investors in the United States now hold a combined average of 23.5% of the equity in listed companies.\u201d<\/li><li style=\"font-weight: 400;\">\u201cEven before the COVID-19 crisis hit, however, the declining quality of the outstanding stock of corporate bonds and the increase in borrowing by companies with lower quality credit ratings were raising widespread concerns about excessive risk-taking in some parts of the corporate sector. One example has been the use of corporate bond markets to finance share buyback operations by high-risk non-investment grade companies. Since 2000, the share of corporate bond offering documents that explicitly mention share buybacks or dividends among the intended uses has increased from 2% to 11%.\u201d<\/li><li style=\"font-weight: 400;\">\u201cThe pandemic has raised concerns and triggered lawsuits with respect to the quality of risk-related disclosures.\u201d<\/li><li style=\"font-weight: 400;\">\u201cAlthough most COVID-19-related lawsuits are yet to be adjudicated, their general focus is on inaccurate or misleading disclosure, stock price manipulation, insider trading and non-compliance with emerging health regulations.\u201d<\/li><li style=\"font-weight: 400;\">\u201cResponding to the COVID-19 crisis, many jurisdictions have made temporary changes to their insolvency practices. These temporary changes have been helpful in protecting otherwise viable companies from filing for insolvency due to the difficulties arising from the extraordinary health measures associated with the coronavirus outbreak. However, if such temporary changes remain in force, in the longer-term they may undermine one of the most significant objectives of insolvency regimes, which is to ensure a timely initiation of workouts or insolvency proceedings.\u201d<\/li><\/ul><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Para mucha gente del mundo\u00a0ESG, una empresa sin los mecanismos\u00a0\u201cG\u201d\u00a0adecuados no puede realmente tener un rendimiento superior a largo plazo (aunque preste mucha atenci\u00f3n a la E o a la S). No cabe duda de que la pandemia ha suscitado debates interesantes, as\u00ed como ha fortalecido debates existentes sobre gobierno corporativo. Creemos que lo que vendr\u00e1\u00a0hacia adelante estar\u00e1 muy influenciado por la forma en la que los inversionistas\u00a0generen presi\u00f3n por ver\u00a0mejoras\u00a0en este \u00e1mbito. La \u00e9tica y la transparencia seguir\u00e1n siendo fundamentales.<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Espero que esto te haya parecido interesante. Como siempre, si hay algo en lo que pudi\u00e9ramos ayudar, o si hay un tema de ESG del cual quisieras saber m\u00e1s, por favor h\u00e1znoslo saber.<\/p><p style=\"font-weight: 400;\">Saludos,<\/p><p style=\"font-weight: 400;\">Marimar<\/p><p style=\"font-weight: 400;\"><em>CEO, Miranda ESG<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02f8b64 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"02f8b64\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4190439 elementor-widget elementor-widget-text-editor\" data-id=\"4190439\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Contactos en Miranda Partners<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-2ac392d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2ac392d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1af5aae\" data-id=\"1af5aae\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d6616b elementor-widget elementor-widget-text-editor\" data-id=\"6d6616b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Damian Fraser<\/strong><br \/>Miranda Partners<br \/><a href=\"mailto:damian.fraser@miranda-partners.com\">damian.fraser@miranda-partners.com<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-fc895f1\" data-id=\"fc895f1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-515add8 elementor-widget elementor-widget-text-editor\" data-id=\"515add8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Marimar Torreblanca<\/strong><br \/>Miranda ESG<br \/><a href=\"mailto:marimar.torreblanca@miranda-partners.com\">marimar.torreblanca@miranda-partners.com<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>This week&nbsp;the OECD published a report called&nbsp;The Future of Corporate Governance in Capital Markets Following the COVID-19 Crisis. We think it has very interesting insights and data that can help think about things that might change in coming years for a variety of reasons, including the pandemic. See what we think are the 10 key [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":6317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-6314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-esg"],"_links":{"self":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/posts\/6314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/comments?post=6314"}],"version-history":[{"count":0,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/posts\/6314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/media\/6317"}],"wp:attachment":[{"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/media?parent=6314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/categories?post=6314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/miranda-partners.com\/es\/wp-json\/wp\/v2\/tags?post=6314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}