The State of Corporate Governance: Experience from Country Assessments

Fremond, Olivier ; Capaul, Mierta

World Bank, Washington, D.C.

关键词: CORPORATE GOVERNANCE;    COUNTRY CLASSIFICATIONS;    EQUITY FINANCE;    RATE OF RETURN;    RISKS;   

DOI  :  10.1596/1813-9450-2858
RP-ID  :  WPS2858

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Corporate governance deals with the waysin which the rights of outside suppliers of equity financeto corporations are protected and receive a fair return.Good practices reduce the risk of expropriation of outsidersby insiders and thus the cost of capital for issuers. Theauthors review the experience of the preparation of 15corporate governance country assessments across fivecontinents. The assessments have been prepared under theumbrella of the joint World Bank/IMF initiative of the"Reports on the Observance of Standards and Codes"(ROSCs). The assessments focus on the rights ofshareholders, the equitable treatment of shareholders, therole of stakeholders, disclosure and transparency, and theduties of the board of listed companies, and use the OECDPrinciples of Corporate Governance as benchmark. The authorsgive an overview of the actual and potential contribution ofthe assessments to policy dialogue, diagnostic and strategicwork, lending and non-lending operations, and technicalassistance and capacity, and presents the unfinished agenda.