Edited by Alice de Jonge and Roman Tomasic
Chapter 11: Capital market disclosure regimes: advancing accountability for Chinese TNCs
This chapter explores the role of disclosure in global capital markets as a mechanism for promoting the accountability of TNCs to investors and to broader stakeholder constituencies. It opens with a discussion of the role of standard financial reporting within the regulatory landscape, as well as emerging trends in non-financial or sustainability disclosure. The chapter then presents a case study of the implementation of voluntary and mandatory reporting requirements by stock exchanges, regulators, and TNCs based in Mainland China. China’s experience shows that even in emerging markets where market-based incentives and external monitoring are weak, capital market disclosure regimes can be an important source of TNC oversight.
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