Public companies in developing economies other than the Bric countries (Brazil, Russia, India and China), now account for more than one in 10 of the world’s largest 2,500 groups by market value for the first time.
Analysis by Strategy?&, the consultancy firm formerly known as Booz and Company, shows that of the 2,500 largest listed companies, 270 were from other emerging markets such as Mexico, Nigeria and Thailand at the end of 2013.
It marks a decade of consistent growth in the prominence of these groups, which have more than doubled in number in this top ranking since 2004.
The change is part of a wider shift between developed and emerging economies that has seen the proportion of groups in North America and western Europe fall as a proportion of this top echelon compared with companies from less mature markets. In 2004, North America and western Europe made up almost seven in 10 of the biggest groups, but they are now little more than half.
In terms of market capitalisation, companies from these other emerging markets were also at a record last year, amounting to 7 per cent of the 2,500 largest. The proportion represented by western Europe was at a low of 20 per cent, with North America accounting for one-third of the total – down from more than two in five back in 2004. Japan accounts for just 6 per cent of the whole – its lowest level for several years, and just half its level in 2006.
Per-Ola Karlsson, a Strategy?& partner, says the change is “a true description of a shift in economic power”. He says the movement is partly the result of growth in these economies but also about the greater access to capital markets now available.
Among those that have joined the list of the 2,500 largest groups are emerging market offshoots of developed economy groups, such as Brazil’s financial group Banco Santander Brasil, and Africa’s Nestlé Nigeria.
The changes also reflect the declining fortunes of some groups in developed markets. The US clinical research group Covance and the Sweden-based security group Securitas have both slipped out of the 2,500 largest groups by market value.
Mr Karlsson says despite the fall in the number of companies in North America and western Europe in the top 2,500, other figures point to the comparative resilience of the US economy. While western Europe has fallen back both in terms of number of groups in the top 2,500 and of average market value, the North American groups have remained stronger.
咨询公司Strategy?&的分析表明，2013年末，在全球2500家最大的上市公司中，有270家来自墨西哥、尼日利亚和泰国等其他新兴市场。Strategy?&的前身是博斯公司(Booz and Company)。
全球2500家最大上市公司还包括发达经济体企业在新兴市场设立的分支，比如巴西金融集团——巴西桑坦德银行(Banco Santander Brasil)和非洲的雀巢尼日利亚公司(Nestlé Nigeria)。