Financial Daily from THE HINDU group of publications
Friday, May 31, 2002
Financial Daily from THE HINDU group of publications Friday, May 31, 2002 |
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Industry & Economy
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Events Markets - Shareholder Activism OECD seminar to focus on shareholders' rights Our Bureau
NEW DELHI, May 30 THE Organisation for Economic Cooperation and Development (OECD) is hosting a three-day seminar in Mumbai beginning from June 10 as its fourth Asian roundtable conference focussing on shareholders' rights and the equitable treatment of shareholders. A press release by the Paris-based inter-governmental think tank of 29 rich industrial countries said politicians, investors, corporate executives, policy makers and representatives of civil society from across the Asia-Pacific region would take part in the conference. Drawing on the widely recognised OECD principles of corporate governance, the roundtable would focus on promoting shareholders' participation, preventing insider trading abuses, enforcing shareholders' rights and safeguarding their interests. Opening speakers include the Chairman and Chief Mentor of Infosys, Mr N.R. Narayana Murthy, OECD Deputy Secretary-General, Mr Seiichi Kondo, World Bank's Director for Private Sector Advisory Services, Mr Michael Klein, and the Vice-President of the Asian Development Bank, Mr Myoung-Ho Shin. The Union Minister for Law, Justice and Company Affairs, Mr Arun Jaitley, and the Disinvestment Minister, Mr Arun Shourie, would deliver the keynote address. Other Indian participants include the Secretary, Department of Company Affairs, Mr Vinod Dhall, Securities and Exchange Board of India (SEBI) Chairman, Mr G.N. Bajpai, HDFC Chairman, Mr Deepak Parek, Managing Director and CEO, ICICI Bank, Mr K.V. Kamath, and Chief Economist of the Confederation of Indian Industry (CII), Mr Omkar Goswami. The OECD said corporate governance concerns ways in which modern corporations are directed and controlled. Corporate governance practices could vary between companies and countries. For globally mobile investors, the quality of corporate governance has become an increasingly important factor when choosing among different investment opportunities. Good governance has become a central concern for Asian governments and companies that want to attract capital and foster sound capital market.
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