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This report aims to further advance the action plan on corporate governance and the financial crisis. Following an analysis of major corporate governance weaknesses using the OECD Principles of Corporate Governance.It provides a set of key findings and main messages These findings will provide the basis for a set of recommendations to be issued towards the end of 2009.
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The main purpose of this paper is to discuss the impact of the changing ownership of stock exchanges on the corporate governance of listed companies.
List of publications for Road to Recovery: Innovation, Jobs & Clean Growth
The OECD is undertaking a review of the role of corporate governance in the financial crisis, focusing on monitoring, implementation and enforcement of standards and codes, as well as specific areas for improvement. An important part of this programme is to engage and seek advice from key stakeholders.
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This paper portrays a picture of Corporate Governance in The United Kingdom, the United States of America and France in the banking sector being severely challenged in an extreme Financial Crisis that has seen household banking names run into trouble, some to fail and others to be taken into various degrees of national ownership. Corporate Governance is stretched to the extent that it is distressed and has been unable to cope with the
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The OECD has been developing a response to the crisis that is holistic, looking atfinancial market issues, and the wide variety of factors that led to damaging incentive structures, as well as the requirements for broader macro and fiscal policies. The crisis has led to a variety of emergency financial measures such as loans, guarantees, and nationalisations. For financial markets, the focus is on exit strategies that are consistent
This Annual Report provides an account of the actions adhering governments took over the 12 months to June 2008 to enhance the contribution of the Guidelines to the improved functioning of the global economy. It also highlights key findings of the High-Level OECD-ILO Conference on Corporate Social Responsibility.
The IAIS-OECD issues paper on insurer corporate governance provides background on insurer corporate governance, describes practices and identifies possible regulatory and supervisory issues. Comments received were considered in the preparation of a final version of the issues paper.
OECD has long been actively involved in promoting an international dialogue on privatisation and corporate governance of state-owned enterprises. Representatives from both OECD and non-member countries participate in the Global Network which provides a structured environment for initiatives to support improvements in the governance of SOEs and, where governments decide to privatise, ensure that it is done effectively.
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The Report examines the experience of a number of financial institutions and concludes that the financial crisis can be to an important extent attributed to failures and weaknesses in corporate governance arrangements. The risk management systems have failed in many cases due to corporate governance procedures rather than technical problems. Remuneration systems have amplified such risk management weaknesses. The responsibility for