
handle: 10986/31759 , 10986/24777
Good corporate governance is a basic element for healthy companies and a key to sustainable private sector development. Strong governance fundamentals contribute to better management and more effective boards, leading to enhanced operational efficiency, reduced risk, improved decision making, and increased valuations, among other business benefits. This publication represents a unique collaborative effort to assess the state of corporate governance around the world in the wake of the 2008 global financial crisis. It draws on the expertise of the IFC Corporate Governance Private Sector Advisory Group and other practitioners in this important field, providing a fascinating and detailed accounting of the range of changes that have taken place in the past few years as the corporate governance agenda has been elevated. The report highlights notable improvements in board practices, control environment, shareholder protection, and transparency and disclosure. It also points to progress on more effective application, monitoring, and enforcement of corporate governance codes. Importantly, the publication identifies future directions where more work is needed, such as increased commitment at the national level to prioritize the corporate governance agenda. Specifically, Part A discusses developments from global or regional groups involved in corporate governance. Part B addresses developments in corporate governance practice, and Part C looks at developments in corporate governance codes and standards.
DISCLOSURE OF INFORMATION, INTERNAL AUDIT, STOCK MARKET, ALLOCATION OF RESOURCES, COMMUNICATION, DECISION-MAKING, SECURITIES MARKET, SHAREHOLDERS, FINANCE CORPORATION, SHAREHOLDER RIGHTS, LEGISLATIVE BODIES, GOVERNANCE FAILURES, STATE OWNERSHIP, FINANCIAL SECTOR, NATIONAL LEVEL, STATE-OWNED ENTERPRISES, INDEPENDENCE, DECISION-MAKING PROCESS, NATIONS, RESOURCE ALLOCATION, OVERSIGHT, FINANCIAL CRISIS, COMPROMISE, GOVERNMENTS, CONSTITUTION, SHAREHOLDER, RISK MANAGEMENT SYSTEMS, OPERATIONAL EFFICIENCY, INVESTORS, INTERNAL CONTROL, FINANCIAL SYSTEMS, REGULATORY REGIME, CORPORATE GOVERNANCE STANDARDS, REPRESENTATIVES, RISK MANAGEMENT, AUTHORITIES, MARKET CAPITALIZATION, TRANSPARENCY, REGULATORY REGIMES, 330, FEDERATION, FINANCIAL MARKETS, INSTITUTIONAL INVESTORS, STRONG CORPORATE GOVERNANCE, INFORMATION SYSTEMS, GOVERNANCE PRACTICES, INTERNATIONAL FINANCE, REGULATORY FRAMEWORKS, CORPORATE GOVERNANCE, GLOBAL INVESTOR, FINANCIAL STATEMENTS, GOVERNANCE MONITORING, BANKING, NATIONAL GOVERNMENTS, STOCK EXCHANGE, DECISION MAKING, RISK MANAGEMENT PROCESS, TRANSPARENCY INITIATIVE, LACK OF CLARITY, INTERNAL CONTROLS, VOTING, PUBLIC SECTOR, DECISION-MAKING PROCESSES, REGULATORY AUTHORITY, STATES, SUSTAINABLE DEVELOPMENT, FINANCIAL SERVICES, CONSENSUS, SECURITIES EXCHANGE, REPRESENTATION, DISCLOSURE, JURISDICTIONS, FINANCIAL INFORMATION, AUTHORITY, ENFORCEMENT, REGULATORY POLICY, INVESTMENT CLIMATE, MINISTERS, OWNERSHIP STRUCTURES, AUDITS, CITIZENSHIP, EXCHANGE, TAXATION, SHAREHOLDER PROTECTION, SHAREHOLDER ENGAGEMENT, IDEOLOGIES, MARKET DEVELOPMENT, STAKEHOLDER RIGHTS, CAPITAL MARKETS, GOVERNANCE, REGIONS, REGULATORY FRAMEWORK, STATE, COMPLEX RISK, FINANCIAL SYSTEM, OUTPUT, FINANCIAL INSTITUTIONS, HUMAN CAPITAL, REGULATION, INTERNAL AUDIT FUNCTION, INTERNATIONAL CORPORATE GOVERNANCE, CORPORATE GOVERNANCE SYSTEM, REGULATOR, GOVERNMENT, GOVERNANCE DIMENSION, FORMAL STANDARDS, LEGAL FORM, GOOD GOVERNANCE, STRONG GOVERNANCE, REGULATORY SYSTEM, HUMAN RESOURCES, LEGISLATORS, RISK MANAGEMENT COMMITTEE, PUBLIC OFFICIALS, PUBLIC POLICY, GOVERNANCE PRACTICE, EXECUTION, LEGISLATION, SECURITIES, BOARD EFFECTIVENESS, FUTURE, CORPORATE RESPONSIBILITY, ANTI-CORRUPTION, COALITIONS, REGULATORS, INVESTOR, MEMBER STATES, GOVERNANCE CODE, FINANCIAL PERFORMANCE, INTEREST, RESPONSIBILITY, AUDIT STRATEGY, CORRUPTION, LEGAL FRAMEWORK, CONFEDERATION, FINANCIAL RESULTS, SHARE, RISK MANAGEMENT PRACTICES, SOCIAL RISKS, AUDIT, LEGISLATIVE PROCESSES, ACCOUNTABILITY, LAW
DISCLOSURE OF INFORMATION, INTERNAL AUDIT, STOCK MARKET, ALLOCATION OF RESOURCES, COMMUNICATION, DECISION-MAKING, SECURITIES MARKET, SHAREHOLDERS, FINANCE CORPORATION, SHAREHOLDER RIGHTS, LEGISLATIVE BODIES, GOVERNANCE FAILURES, STATE OWNERSHIP, FINANCIAL SECTOR, NATIONAL LEVEL, STATE-OWNED ENTERPRISES, INDEPENDENCE, DECISION-MAKING PROCESS, NATIONS, RESOURCE ALLOCATION, OVERSIGHT, FINANCIAL CRISIS, COMPROMISE, GOVERNMENTS, CONSTITUTION, SHAREHOLDER, RISK MANAGEMENT SYSTEMS, OPERATIONAL EFFICIENCY, INVESTORS, INTERNAL CONTROL, FINANCIAL SYSTEMS, REGULATORY REGIME, CORPORATE GOVERNANCE STANDARDS, REPRESENTATIVES, RISK MANAGEMENT, AUTHORITIES, MARKET CAPITALIZATION, TRANSPARENCY, REGULATORY REGIMES, 330, FEDERATION, FINANCIAL MARKETS, INSTITUTIONAL INVESTORS, STRONG CORPORATE GOVERNANCE, INFORMATION SYSTEMS, GOVERNANCE PRACTICES, INTERNATIONAL FINANCE, REGULATORY FRAMEWORKS, CORPORATE GOVERNANCE, GLOBAL INVESTOR, FINANCIAL STATEMENTS, GOVERNANCE MONITORING, BANKING, NATIONAL GOVERNMENTS, STOCK EXCHANGE, DECISION MAKING, RISK MANAGEMENT PROCESS, TRANSPARENCY INITIATIVE, LACK OF CLARITY, INTERNAL CONTROLS, VOTING, PUBLIC SECTOR, DECISION-MAKING PROCESSES, REGULATORY AUTHORITY, STATES, SUSTAINABLE DEVELOPMENT, FINANCIAL SERVICES, CONSENSUS, SECURITIES EXCHANGE, REPRESENTATION, DISCLOSURE, JURISDICTIONS, FINANCIAL INFORMATION, AUTHORITY, ENFORCEMENT, REGULATORY POLICY, INVESTMENT CLIMATE, MINISTERS, OWNERSHIP STRUCTURES, AUDITS, CITIZENSHIP, EXCHANGE, TAXATION, SHAREHOLDER PROTECTION, SHAREHOLDER ENGAGEMENT, IDEOLOGIES, MARKET DEVELOPMENT, STAKEHOLDER RIGHTS, CAPITAL MARKETS, GOVERNANCE, REGIONS, REGULATORY FRAMEWORK, STATE, COMPLEX RISK, FINANCIAL SYSTEM, OUTPUT, FINANCIAL INSTITUTIONS, HUMAN CAPITAL, REGULATION, INTERNAL AUDIT FUNCTION, INTERNATIONAL CORPORATE GOVERNANCE, CORPORATE GOVERNANCE SYSTEM, REGULATOR, GOVERNMENT, GOVERNANCE DIMENSION, FORMAL STANDARDS, LEGAL FORM, GOOD GOVERNANCE, STRONG GOVERNANCE, REGULATORY SYSTEM, HUMAN RESOURCES, LEGISLATORS, RISK MANAGEMENT COMMITTEE, PUBLIC OFFICIALS, PUBLIC POLICY, GOVERNANCE PRACTICE, EXECUTION, LEGISLATION, SECURITIES, BOARD EFFECTIVENESS, FUTURE, CORPORATE RESPONSIBILITY, ANTI-CORRUPTION, COALITIONS, REGULATORS, INVESTOR, MEMBER STATES, GOVERNANCE CODE, FINANCIAL PERFORMANCE, INTEREST, RESPONSIBILITY, AUDIT STRATEGY, CORRUPTION, LEGAL FRAMEWORK, CONFEDERATION, FINANCIAL RESULTS, SHARE, RISK MANAGEMENT PRACTICES, SOCIAL RISKS, AUDIT, LEGISLATIVE PROCESSES, ACCOUNTABILITY, LAW
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