The Inequality—Financial Markets Nexus: Implications for Developing Metrics for Voluntary Disclosures

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dc.contributor.authorKhan, Zoheb
dc.contributor.authorTheobald, Stuart
dc.contributor.authorEwinyu, Arabo K.
dc.contributor.authorFrancis, David
dc.contributor.authorMogale, Etumeleng
dc.contributor.authorValodia, Imraan
dc.date.accessioned2023-11-17T16:02:03Z
dc.date.available2023-11-17T16:02:03Z
dc.date.issued2024-01-21
dc.departmentSouthern Centre for Inequality Studies (SCIS)
dc.description.abstractCan a disclosure framework reduce overall socio-economic inequality, or will it shift inequality somewhere else, for example, to other firms, other regions, or out of the firm and the private sector and into households? Are there material regional variations in the perceptions of the causes and effects of socio-economic inequality? What is the appropriate level of focus for an inequality disclosure framework? Surplus generated by workers accrues to the owners of capital and, at the most basic level, is a significant contributor to socio-economic inequality. There is also inequality in income between workers within firms and sectors. Furthermore, inequality is produced by access to and changes in asset prices, and by sovereign investing activities, among other factors. The correct unit of analysis for the proposed Taskforce on Inequality-related Financial Disclosures (TIFD – which since the original drafting of this paper has now converged efforts with new partners to form the Taskforce on Inequality and Social-related Financial Disclosures (TISFD)) deserves attention. The authors of this paper believe that regional variations mean that a one-size-fits-all disclosure framework is unlikely to be appropriate. For instance, the distribution of informal employment needs to be considered, with 61% of all global employment being informal and with as much as 90% of employment being informal in many countries in the global South. While disclosure frameworks matter for formal companies, what is often overlooked in the development of disclosure frameworks are the implications for the large number of people, particularly in the global South, who are informally employed or who work in informal enterprises. A second consideration is high unemployment given that the distribution of labour income is one of the great drivers of income inequality. Furthermore, the growth of precarious and non-standard employment, with the rise of platform work as an example, is an additional concern.
dc.description.librarianAKE2023
dc.description.sponsorshipTaskforce on Inequality-related Financial Disclosures (TIFD)
dc.description.sponsorshipPublic Economy Project
dc.description.sponsorshipUniversity of the Witwatersrand
dc.description.sponsorshipSouthern Centre for Inequality Studies (SCIS)
dc.facultyFaculty of Commerce, Law and Management
dc.identifier.citationKhan et al 2023. The Inequality—Financial Markets Nexus: Implications for Developing Metrics for Voluntary Disclosures. Pre-distribution and Ownership SCIS Working Paper | Number 61
dc.identifier.doihttps://doi.org/10.54223/10539/37039
dc.identifier.urihttps://hdl.handle.net/10539/37039
dc.language.isoen
dc.orcid.id0000-0002-5820-401X
dc.orcid.id0000-0002-9100-4765
dc.orcid.id0000-0001-5278-3981
dc.orcid.id0000-0003-1494-9308
dc.orcid.id0000-0002-5607-6595
dc.publisherSouthern Centre for Inequality Studies (SCIS)
dc.publisherUniversity of the Witwatersrand, Johannesburg
dc.relation.ispartofseriesPre-distribution and Ownership Project
dc.schoolSouthern Centre for Inequality Studies (SCIS)
dc.subjectSocio-economic inequality
dc.subjectGlobal South
dc.subjectInequality disclosures
dc.subjectSystemic risk
dc.subjectPre-distribution and Ownership
dc.titleThe Inequality—Financial Markets Nexus: Implications for Developing Metrics for Voluntary Disclosures
dc.typeWorking Paper
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