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The state of corporate governance - experience from country assessments

Author

Listed:
  • Capaul, Mierta
  • Fremond, Olivier
Abstract
Corporate governance deals with the ways in which the rights of outside suppliers of equity finance to corporations are protected and receive a fair return. Good practices reduce the risk of expropriation of outsiders by insiders and thus the cost of capital for issuers. The authors review the experience of the preparation of 15 corporate governance country assessments across five continents. The assessments have been prepared under the umbrella of the joint World Bank/IMF initiative of the"Reports on the Observance of Standards and Codes"(ROSCs). The assessments focus on the rights of shareholders, the equitable treatment of shareholders, the role of stakeholders, disclosure and transparency, and the duties of the board of listed companies, and use the OECD Principles of Corporate Governance as benchmark. The authors give an overview of the actual and potential contribution of the assessments to policy dialogue, diagnostic and strategic work, lending and non-lending operations, and technical assistance and capacity,and presents the unfinished agenda.

Suggested Citation

  • Capaul, Mierta & Fremond, Olivier, 2002. "The state of corporate governance - experience from country assessments," Policy Research Working Paper Series 2858, The World Bank.
    • Handle: RePEc:wbk:wbrwps:2858
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    Citations

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    Cited by:

    1. Mario, Cuevas, 2007. "A Practical Guide to the Assessment of the Vulnerability of the Non-Financial Private Sector," MPRA Paper 1375, University Library of Munich, Germany.
    2. Jordan Shan & Jianhong Qi, 2007. "Independent Directorship and Corporate Performance: Some Further Testing from the China Case," Modern Applied Science, Canadian Center of Science and Education, vol. 1(4), pages 1-22, November.
    3. Ricardo N. Bebczuk, 2005. "Corporate Governance and Ownership: Measurement and Impact on Corporate Performance and Dividend Policies in Argentina," Research Department Publications 3212, Inter-American Development Bank, Research Department.
    4. James P Hawley & Andrew T Williams, 2005. "Shifting Ground: Emerging Global Corporate-Governance Standards and the Rise of Fiduciary Capitalism," Environment and Planning A, , vol. 37(11), pages 1995-2013, November.
    5. Themistokles Lazarides, 2010. "Corporate governance law effect in Greece," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 18(4), pages 370-385, November.
    6. Yan, Xu, 2015. "The Closer Economic Partnership Agreement (CEPA) between China and Hong Kong SAR: From gesture to commitment," Telecommunications Policy, Elsevier, vol. 39(10), pages 913-920.
    7. Harabi, Najib, 2007. "State of Corporate Governance in Arab Countries: An Overview," MPRA Paper 4566, University Library of Munich, Germany.
    8. Stergios Leventis & Panagiotis Dimitropoulos, 2012. "The role of corporate governance in earnings management: experience from US banks," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 13(2), pages 161-177, September.
    9. Mahadeo, Jyoti Devi & Oogarah-Hanuman, Vanisha & Soobaroyen, Teerooven, 2011. "Changes in social and environmental reporting practices in an emerging economy (2004–2007): Exploring the relevance of stakeholder and legitimacy theories," Accounting forum, Elsevier, vol. 35(3), pages 158-175.

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