Which country has the most publicly listed firms?
Stock exchanges such as the Toronto Stock Exchange (TSX), Nasdaq, New York Stock Exchange (NYSE), Shanghai Composite Index, and London Stock Exchange (LSE) play a vital role in global financial markets. They enable companies to raise capital from domestic and international investors, helping businesses fund operations, expand into new markets, and drive long-term economic growth. Some of the world’s largest corporations are listed on these exchanges.
According to research from the European Corporate Governance Institute, published in an article entitled “The Political Economy of Global Stock Exchange Competition”, domestic stock exchanges are essential not only to national economies but also to global financial stability and geopolitics. Beyond helping firms access funds, local stock markets can prevent companies from relocating or redomiciling abroad, ensuring that head offices and high-value jobs remain within national borders. These markets also generate tax revenues for governments and create employment in sectors such as finance, regulation, and corporate services.
Publicly listed companies are required to meet stringent reporting and disclosure standards, including publishing regular financial statements, sharing data on environmental, social, and governance (ESG) performance, and engaging with shareholder activism. This high level of transparency provides valuable insights into economic performance, business resilience, and market trends across both domestic and international economies. These requirements differ by jurisdiction making compliance one of the factors influencing where companies decide to list their shares.
How many publicly traded firms are there globally?
In 2022, just over 51,000 companies had shares actively trading on stock exchanges worldwide—up from 43,427 firms in 2010, an increase of roughly 17%, according to the Listed domestic companies, total dataset published by the World Bank. This growth highlights the expanding importance of global stock markets as platforms that connect businesses seeking capital with investors looking for diversified opportunities. By facilitating foreign investment and capital formation, these exchanges help fuel innovation, strengthen competitiveness, and support sustainable economic growth across borders.
More than one-fifth of the world’s publicly traded firms (11,497) have shares listed on stock exchanges in China. Canada has the second-most publicly traded firms, with 4,226, followed by the United States with 4,010. Japan and India round out the top five, with 3,971 and 2,673 companies listed on their domestic stock exchanges, respectively.
