1 INVESTMENT CLIMATE Corporate Governance Development Equity Associates Inc. February-March, 2004.

Slides:

Advertisements

Similar presentations

Organizational Governance

Advertisements

BOARD EFFICIENCY: The Agenda Setting Role and Information Needs of the Supervisory Board Holly J. Gregory Weil, Gotshal & Manges LLP.

What is Corporate Governance?

ASX Corporate Governance Council

Ownership, Control and Compensation

Core principles in the ASX CGC document. Which one do you think is the most important and least important? Presented by Casey Chan Ethics Governance &

Code of Corporate Governance for Listed Companies in China

1 Corporate Governance in Eurasia: A Comparative Overview Elena Miteva Administrator Corporate Affairs, Directorate for Financial and Enterprise Affairs.

PRESENTED BY: PRESENTED BY:AKANKSHA SINGH DIVYA SINGH HARSH VIKRAM SINGH HARSHIT TYGI JYOTI TRIPATHI KRITIKA TYAGI VAISHALI TOMAR.

Process of CG in Egypt Mohamed Omran Vice Chairman Cairo & Alexandria Stock Exchanges December, 13 th 2006.

Audit Committee in Albania Legal framework Law 9226 /2006 “On banks in Republic of Albania” Law 9901/2008 “On entrepreneurs and commercial companies” Corporate.

Understanding the Role of Corporate Governance: Lessons from the ROSC Program Alex Berg February 2013.

1 20-May-15 ROLE OF INSTITUTIONAL INVESTORS IN ENFORCING CORPORATE GOVERNANCE IN FIRMS Yezdi Malegam Goa.

Stockholder Rights and Corporate Governance Stockholders Corporate Governance Executive Compensation: A Special Issue Shareholder Activism Government.

1. 2 CVM’s OBJECTIVES u to stimulate the creation of savings and their investment in securities; u to promote the expansion and regular and efficient.

3rd session: Corporate Governance

Corporate Governance Group

Trinidad & Tobago Corporate Governance Code 2013

Eurasian Corporate Governance Roundtable

3rd Eurasian Corporate Governance Roundtable Shareholder Rights, Equitable Treatment and the Role of the State April 17-18, 2002 hosted by Securities and.

Developments in Malaysian Corporate Governance The Regulatory Perspective Nik Ramlah Mahmood.

The Importance of Transparency and Disclosure Presented by Brian S. Brown Seoul, Korea - March 1999 OECD Conference: Corporate Governance in Asia.

CORPORATE GOVERNANCE REFORMS AND IMPLEMENTATION IN MONGOLIA 5 TH CORPORATE GOVERNANCE FORUM May 9, 2012 Ulaanbaatar, Mongolia Dr. Demir Yener Senior Corporate.

Good Corporate Governance in Practice. Outline What is Corporate Governance? Regulatory Requirements for Banks in Sri Lanka DFCC Practices - Key Elements.

Chapter 7 Corporate Governance.

Copyright © 2008 McGraw-Hill Ryerson Ltd.1 Chapter Twelve Corporate Governance Canadian Business and Society: Ethics & Responsibilities.

Corporate governance: Asia Pacific. JAPAN  The Japan corporate governance committee published its revised code in The Code had six chapters, which.

Elements of Code of Corporate Governance: East Asia Perspective Prof. Stephen Y.L. Cheung Department of Economics & Finance City University of Hong Kong.

East Asia and the Pacific Region

Corporate Governance Department World Bank Group

THE IMPLEMENTATION OF THE WHITE PAPER ON CORPORATE GOVERNANCE IN SE EUROPE Progress to date in Bulgaria.

Corporate Governance in the Caribbean Environment “The Caribbean Corporate Governance Forum” Trevor E Blake General Manager – ECSE.

PECC Macro Corporate Governance Scorecard Project: Evaluation of Corporate Governance in East Asian Economies Stephen Yan-leung Cheung and Hasung Jang.

CORPORATE GOVERNANCE AND STRATEGIC ANAGEMENT.  Corporate governance, refers to how an organization is governed.  It ensures effective interaction among.

Board of Directors and Governance

Slide 14.1 Pauline Weetman, Financial and Management Accounting, 5 th edition © Pearson Education 2011 Chapter 14 Reporting corporate performance.

Compañía de Minas “Advances in Corporate Governance: Cia. de Minas Buenaventura” Roque Benavides Rio de Janeiro – December, 2002 Roque Benavides Rio de.

1 © 2012 John Wiley & Sons, Ltd, Accounting for Managers, 4th edition, Chapter 2 Accounting and its Relationship to Shareholder Value and.

European Corporate Governance: What are the current issues? European Union Corporate Governance Standards - Working Group Meeting December 17, 2013 Brussels.

CHAPTER 3 Corporate Governance. Chapter Objectives To define corporate governance To describe the history and practice of corporate governance To examine.

Annual seminar in Berlin – 27 th May Should EU corporate governance measures take into account the size of listed companies ? How ? Should a.

THE OECD PRINCIPLES OF CORPORATE GOVERNANCE Stilpon NESTOR OECD.

The OECD principles on corporate governance are intended to underpin an assessment of the implementation of the Principles in a jurisdiction and to provide.

Corporate Governance. CORPORATE GOVERNANCE  WHAT IS CORPORATE GOVERNANCE – PROCESSES AND STRUCTURE BY WHICH BUSINESS AND AFFAIRS OF CORPORATE SECTOR.

ON CORPORATE GOVERNANCE.  Ali Iqbal (Group leader) MBP  Nabeel Ahmad Butt MBP  Zain Fayyaz Butt MBP  Weheb Abid MBP  Amna.

M I N I S T R Y O F I N D U S T R Y, E M P L O Y M E N T A N D C O M M U N I C A T I O N S OECD Guidelines on Corporate Governance of State Owned Enterprises.

Corporate Reform in East Asia Prof. Stephen Y.L. Cheung Department of Economics & Finance City University of Hong Kong.

Slide 1 Federation des Experts Comptables Méditerranéens 4 th FCM Conference Capri, 3-4 May 2004 The Globalisation of Small and Medium-sized Enterprises.

Financial Sector Development: Building Market Foundations Through International Codes And Standards Sherman G. Boone, Assistant Director Office of International.

Chapter 7 Corporate Governance. Definition of Corporate governance “Corporate governance involves a set of relationships between a company’s management,

1 Bishkek, October 2003 The Responsibility of the Board according to the OECD Principles and Patterns of Change in the aftermath of Recent Corporate Events.

Governance, Risk and Ethics. 2 Section A: Governance and responsibility Section B: Internal control and review Section C: Identifying and assessing risk.

Corporate Governance Week 10 BUSN9229D Saib Dianati.

“Corporate Governance in Quoted Equities” The Securities Commission S e c of Zimbabwe.

Corporatization of Family Companies & International Corporate Governance Principles Syrian Commission on Financial Markets & Securities 3 rd Conference.

F8: Audit and Assurance. 2 Audit and Assurance Designed to give you knowledge and application of: Section A: Audit Framework and Regulation Section B:

Chapter 5 ASX Guidelines for Listed Companies

MGMT 452 Corporate Social Responsibility

Auditing & Investigations I

Entrepreneurship and Management

Corporate Governance Corporate Governance also plays an important role in maintaining corporate integrity and managing the risk of corporate fraud, combating.

OECD - Introduction It is an organisation of those countries which describe themselves as Democratic and have Market economy. Its HQ is in Paris, France.

ROLE OF INSTITUTIONAL INVESTORS IN ENFORCING CORPORATE GOVERNANCE IN FIRMS Yezdi Malegam Goa.

The Responsibilities of the Board

Board of Directors Roles and Responsibilities

Corporate Governance It is a system by which companies are managed and directed in the best interests of the owners and shareholders. It refers to the.

Chapter 7 Corporate Governance.

Corporate Governance – The cornerstone

Presentation transcript:

1 INVESTMENT CLIMATE Corporate Governance Development Equity Associates Inc. February-March, 2004

2 INVESTMENT CLIMATE Foreign Investment Investment Climate Assessment Corporate Governance

3 Investment Climate Corporate Governance The Review Process Areas of Focus The Ratings

4 Investment Climate Corporate Governance The Review Process In Country Assessment Reports on Observance of Standards and Codes ( ROSC) ( World Bank/OECD) Benchmark Against OECD Principles Diagnostic of Formal and Informal Aspects Published Upon Clearance Policy Recommendations

5 Investment Climate Corporate Governance Areas of Focus Capital Markets Overview Rights of Shareholders Equitable Treatment of Shareholders Role of Stakeholders in Corporate Governance Disclosure and Transparency Responsibilities of The Board

6 Investment Climate Corporate Governance Review - Areas of Focus Capital Markets Overview Market Value,trading Volume,new Issues, Etc. Dominant Companies Role of Institutional Investors Legal Framework Governing Listed Companies Supervisory Entities

7 Investment Climate Corporate Governance Review - Areas of Focus Rights of Shareholders Basic Shareholder Rights – Secure Ownership, Buy & Sell, Access Information,vote, Elect Board, Share in Profits Right to Participate in Fundamental Decisions Shareholder AGM Rights Disproportionate Control Disclosure Markets for Control Should Function Effectively Cost/benefit to Voting

8 Investment Climate Corporate Governance Review - Areas of Focus Equitable Treatment of Shareholders All Shareholders Should Be Treated Equally Prohibit Insider Trading Board & Management Disclose Interests

9 Investment Climate Corporate Governance Review - Areas of Focus Role of Stakeholders in Corporate Governance Legal Stakeholder Rights Respected Redress for Violation of Rights Performance Enhancement Provisions Access to Relevant Information

10 Investment Climate Corporate Governance Review - Areas of Focus Disclosure and Transparency Disclosure Standards 1. Financial & Operating Results 2. Company Objectives 3. Major Shareholding and Voting Rights 4. Board, Key Executives and Their Compensation 5. Material Foreseeable Risk Factors 6. Material Employee & Stakeholder Issues 7. Governance Structures & Policies Standards of Accounting & Audit Independent Annual Audit Fair & Timely Dissemination

11 Investment Climate Corporate Governance Review - Areas of Focus Responsibilities of The Board Key Functions 1. Guide & Approve Corporate Strategy, Business Plan,risk Policy, Budgets, Monitor Performance, Oversee Capital Expenditures, Acquisitions & Divestitures. 2. Select, Compensate & Replace Key Executives, Plan Succession 3. Review Executive & Board Remuneration and Ensure Transparent Board Nomination Process 4. Monitor & Manage Conflict of Interest, Misuse of Assets and Related Party Transactions 5. Ensure Integrity of Accounting, Independent Audits, Controls and Compliance 6. Monitor Effectiveness of Governance Practices 7. Oversee Disclosure and Communications

12 Investment Climate Corporate Governance Review - Areas of Focus Responsibilities of The Board (Cont ’ d) Fulfill Key Functions Listed Act With Due Diligence in the Best Interest of the Firm Treat All Shareholders Fairly Ensure Compliance With Law Exercise Objective Judgment Access to Accurate, Relevant & Timely Information

13 Investment Climate Corporate Governance The World Bank/OECD ROSC Ratings Observed: All Essential Criteria Are Met Without Significant Deficiencies Largely Observed: minor Shortcomings Which Do Not Appear to Impair Authorities to Fully Observe in the Short Term Partially Observed: laws & Regulations Comply but Practices and Enforcement Diverge Materially Not Observed: despite Progress Shortcomings Make Authority ’ s Ability to Observe Doubtful Not Observed: No Substantive Progress Towards Observance Has Been Achieved