Clear improvements in corporate governance of growth companies

5th December 2017

Clear improvements in corporate governance of growth companies

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Today we published the 2017 edition of the QCA/UHY Hacker Young Corporate Governance Behaviour Review. For the review we have benchmarked the corporate governance disclosures made from a random selection of 100 small and mid-size quoted companies taken from the Main Market, AIM and NEX Exchange, and compared these against the minimum disclosures set out in the Quoted Companies Alliance Corporate Governance Code for Small and Mid-Size Quoted Companies (the QCA Code). A group of institutional investors then examined the results of our analysis in detail at a discussion roundtable. Their reflections have led to this year’s top five recommendations for companies to improve their corporate governance disclosures.

Our top five governance reporting recommendations for companies are:

  • Describe the relationship between your company’s strategy and your governance arrangements effectively, and explain your board’s role in realising the company’s objectives; 
  •  Articulate your company’s story in an engaging way and take the time to avoid ‘boilerplate’ disclosures;
  • Set out clearly how your board’s performance is evaluated and what is being done as a result;
  • Provide a single total remuneration figure for each of your directors in a focused report; and
  • Explain each director’s role to demonstrate how your board has the appropriate balance of skills and experience. 

Read the full details of the recommendations and findings by downloading the review (pdf) .

We hope that this review will help quoted company directors to communicate with investors better. As ever, we appreciate your feedback on how to improve this research and any other research we do, so please email us with any comments.
 

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