Corporations returns act: Who controls Canadian business?

1. A 10 year review of foreign control in the Canadian corporate economy An overview of the methodology and results of research work done by Gill (2018) of the Industrial Organization & Finance Division. Historically, foreign control was held by Canada’s largest trading partners: the United States, the European Union (including the United Kingdom, France, Germany and the Netherlands), and Japan. In 2016, this breakdown still represented 79.1% of total assets under foreign control in Canada. However, a number of countries are entering the Canadian corporate landscape. The most recent research, provides additional country level detail covering 90.6% of foreign controlled assets. Our research shows that the share of foreign control in Canadian corporations has diminished over the last ten years indicating that growth in foreign controlled assets is outmatched by growth in Canadian controlled assets in corporations conducting business in Canada. 2. The Inter-corporate ownership Web based product The Inter-Corporate Ownership (ICO) publication is a reliable index of who owns and/or controls whom in Canada. It is intended to serve as an essential reference tool for corporate executives, bankers, financiers, “Corporate Governance: Search for the Advanced Practices” Rome, February 28, 2019 26 marketing managers, investors, researchers and the general public, all of whom desire the latest detailed information on the corporate structure of Canadian society. The ownership (voting equity) information contained in this directory is primarily based upon non-confidential returns filed by Canadian corporations under the Corporations Returns Act. It has been supplemented from a broad range of national and international data sources for major changes in corporate ownership and information on ultimate foreign parent corporations. In many cases, this research has resulted in expanded enterprise structures, spanning several countries and providing insights into the organization of multi-national enterprises operating in Canada. 3. Preliminary results on gender diversity of Canadian corporate directors The aim of this ongoing study is to examine gender board diversity and more specifically the prevalence of women as directors and officers within corporations operating within Canada. The research focuses on the years between 2006 and 2016. We suggest that women’s presence on boards has increased during that time period. Data on members of boards of directors from the Corporations Returns Act (CRA) doesn’t provide information on gender. A program was therefore developed to estimate the probability that a name is associated with a specific gender. Statistics on the composition of corporate boards and more specifically on women having a governance role on boards of directors were then produced.