Template-Type: ReDIF-Article 1.0
Author-Name: L. Daniel Wilson 
Author-Workplace-Name: University of Calgary
Title: Canadian Senior Market Health Check: Future Relevancy of the Public Markets at Risk as Operating Public Company Decline Accelerates
Abstract:Since the peak of operating company listings in 2008, the number of operating companies listed on the Toronto Stock Exchange (TSX) has declined by 42.5 per cent. A short COVID-19-era initial public offering (IPO) boom in 2020–2021 offered a brief reprieve in the ongoing operating company decline phenomenon, but the last 2 1/2 years have seen the worst Canadian IPO market over the multiple decades for which data are available. This paper picks up the threads of pre-COVID-19 analysis on this important issue, starting with a review of the key reasons why operating public company decline in Canada is a critical public policy issue necessitating intervention. Theories on factors contributing to the phenomenon are also briefly discussed. Finally, this paper presents a variety of key data points examining in more detail the precise nature and extent of the operating public company decline phenomenon in the senior Canadian capital markets.
Volume: 18
Issue: 01
Year: 2025
Month: January
File-URL: https://www.policyschool.ca/wp-content/uploads/2025/01/FMK16CdnSeniorMrktHealth-Final.pdf
File-Format: Application/pdf
Handle: RePEc:clh:resear:v:18:y:2025:i:01