The recent surge in competition between state and private firms in global markets calls for a reflection on how to minimise any potentially distortionary effects on international trade and investment created by state enterprises while at the same time restraining any undue protectionist policy responses directed at them.
To tackle these challenges and mitigate their effects, the OECD is working in a wide spectrum of policy areas: anti-bribery, public procurement, lobbying or money laundering. Strengthening the role of internal controls and audit functions is one of our key tools to help combat corruption and fraud.
This report provides an overview of frameworks and experience in Latin America and internationally in dealing with the challenges associated with corporate governance of company groups. It describes their economic rationale, benefits and relevance in Latin America, and how they are defined, overseen and regulated. It also delves into some of the risks and more specific challenges involved in ensuring protection of minority shareholder rights and managing or minimising conflicts of interest within groups. It notes the rising importance of Latin American-based multinational company groups. Finally, it reviews existing international and regional guidance on corporate governance of company groups before assessing the more specific policy options and challenges in the region, and describing the conclusions reached by the Latin American Corporate Governance Roundtable and Task Force on Company Groups based on this report’s findings. Country-specific chapters provide more specific descriptions of the frameworks in place for corporate governance of company groups in Argentina, Brazil, Chile, Colombia, Mexico and Peru.
The purpose of this workshop was to share information with the Ukrainian authorities about the obligations of governments under the OECD Declaration on International Investment and Multinational Enterprises related to the OECD Guidelines for Multinational Enterprises, one of four instruments of the Declaration.
This report reviews the rationales offered by national governments for including or maintaining certain corporate assets in state ownership. Drawing from responses from 24 countries to a questionnaire based on the OECD Guidelines on Corporate Governance of State-Owned Enterprises (the “Guidelines”), the report aims to provide guidance to authorities seeking to reform or review their ownership policies. It does so, first, by providing provides an inventory of national practices regarding the application of the Guidelines recommendation that governments should develop and issue an ownership policy that defines the overall objectives of state ownership, the state’s role in the corporate governance of state-owned enterprises (SOEs), and how it will implement its ownership policy. Second, the report illustrates how the state enterprise ownership policy is applied in situations where new SOEs are created, or when the state decides to terminate its enterprise ownership. The report was reviewed by the OECD Working Party on State Ownership and Privatisation Practices, which oversees implementation of the Guidelines, and is current as of October 2014.
The private sector plays an important role in economic development. However to be beneficial to local populations, business must act responsibly. Part 2 of this blog focuses on how community engagement can help business achieve this, in harmony with the OECD Guidelines for Multinational Enterprises, and reinforce the link between responsible business and inclusive growth.
The private sector plays an important role in economic development. However to be beneficial to local populations, business must act responsibly. Part 1 of this blog discusses how business can do this, as laid out in the OECD Guidelines for Multinational Enterprises, and make a positive contribution to economic, environmental and social progress with a view to achieving sustainable development.
English, PDF, 2,137kb
The G20/OECD Principles of Corporate Governance provide recommendations on shareholder rights, executive remuneration, financial disclosure, the behaviour of institutional investors and how stock markets should function. Sound corporate governance is seen as an essential element for promoting capital-market based financing and unlocking investment, which are keys to boosting long-term economic growth.
English, PDF, 385kb
This report responds to the request of G20 Finance Ministers and Governors in their February 2015 communique for “the FSB, coordinating the inputs of the IMF, OECD, BIS, IOSCO and WBG to prepare a report by our meeting in September preceded by an interim report to the June Deputies meeting to examine the factors that shape the liability structure of corporates focusing on its implications for financial stability.”
English, PDF, 1,467kb
Presented to G20 Finance Ministers and Central Bank Governors in September 2015, this report is about the relationship between corporate governance and corporate access to capital markets with a focus on growth companies that have the potential to escape a static state of being an SME. It provides an extensive empirical overview of how corporations enter and use public equity markets and corporate bond markets.