Chapman Tripp has released a Corporate Governance Trends and Insights report, pointing to a more activist shareholder culture, more boardroom diversity, more intense accountability and enhanced disclosure requirements.
The firm thinks interest in New Zealand corporate governance will increase as more people enter the listed security markets.
"We expect market participation rates will grow over the next 20 years due to a number of factors, both economic and technical, partner Roger Wallis says.
He says these include:
- An appetite among "generation rent" for assets requiring less up-front capital,
- Entrepreneurial opportunities created by the internet both in realising good ideas and in commercialising them.
- Continued growth in Kiwisaver and personal savings.
Mr Wallis says the recently updated NZX Corporate Governance Code will also be a driver for change, notably in the areas of company strategy, diversity, remuneration and environmental, economic and social reporting.