Corporate governance

Abstract

No AccessStand Alone Books1 Feb 2013Corporate governanceA framework for implementationAuthors/Editors: Magdi Iskander, Naderah ChamlouMagdi Iskander, Naderah Chamlouhttps://doi.org/10.1596/0-8213-4741-1SectionsAboutPDF (0.7 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract:While the recent economic and financial crises in East Asia and elsewhere had a multitude of underlying causes, weak corporate governance has consistently been seen as a major contributor that needs to be addressed to revive investor confidence and decrease the impact and likelihood of future shocks. Good corporate governance is not only about its increasing importance to international investors but also its protection of domestic investors. Unlike international investors who have sophisticated instruments to diversify their overall portfolio risk, domestic investors are often captive to local markets and risk losing their life ' s savings when transparency is lacking and governance systems are defective. In an environment that does not protect minority shareholders ' rights, these investors cannot risk investing in corporations directly, thus limiting their ability and potential to participate in or contribute to their economy ' s development. As a group, however, they represent a large pool of stable, long-term resources critical to the development process. This report develops a framework for implementing corporate governance reform. The second chapter expands on this framework to discuss specific corporate governance challenges in emerging markets. Chapter 3 proposes an agenda for action by the World Bank Group and its partners

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