This review of Corporate Governance in Colombia was prepared as part of the process of Colombia's accession to OECD Membership. The report describes the corporate governance setting for both listed companies and the state-owned sector (SOEs). The review then examines the legal and regulatory framework and company practices to assess the degree to which the recommendations of the G20/OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-Owned Enterprises have been implemented. The review finds that Colombia's framework for the corporate governance of listed companies is largely consistent with the Principles, although some companies have been reluctant to implement some of the good practices recommended in Colombia's national corporate governance code. For SOEs, the report recognises substantial reforms undertaken during the review process to adopt an ambitious national ownership policy. Reforms have included establishing an ownership co-ordination unit and more transparent reporting on SOE performance, and removing ministers from SOE boards and establishing more transparent board nomination processes aimed at enhancing the qualifications of board members. The report seeks continuing efforts to consolidate these reforms and to implement plans announced in the national ownership policy.
The 10th meeting of the Asia network on corporate governance of state-owned enterprises took place in Kuala Lumpur, Malaysia, on 19-20 September 2017.
State-owned enterprises (SOEs) are important elements of many national economies. They are also increasingly active internationally, which has led to renewed concerns in recent years about whether their competitive conditions in home markets might adversely impact “fair” competition with companies abroad. Many of the concerns held by national policy makers and businesses surrounding foreign SOEs’ competitive conditions stem from limited transparency and information on SOEs. This report seeks to bolster the factual information base by presenting the main findings of the most comprehensive and internationally comparable dataset currently available on the size, sectoral distribution and corporate forms of national SOE sectors in 40 countries.
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This report provides an overview of national approaches to disclosure and transparency in the state-owned enterprise (SOE) sector in nine Asian economies: Bhutan, India, Kazakhstan, Korea, Malaysia, Pakistan, Philippines, Thailand and Viet Nam.
This dialogue between Indonesia and the OECD supports policy makers in their efforts to enhance disclosure of beneficial ownership and control as part of overall efforts to improve corporate governance standards and practices in Indonesia.
This report describes the economic landscape of publicly listed family firms in Asia and looks at the importance of these entities to the region and beyond. It highlights how an effective corporate governance system can improve performance and create value by reducing the cost of equity and reducing capital waste.
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A sound corporate governance infrastructure should combine transparency, accountability and integrity. This requires knowledge of beneficial ownership and ownership and control structures in listed companies. This report reviews company practices regarding disclosure of beneficial ownership and control in Asia.
The 2017 edition addresses some forces influencing economic developments that have contributed to recent surprises in elections and referendums. It focuses on ways to enhance “fairness”, in the sense of strengthening global governance to ensure a level playing field in trade, investment and corporate behaviour, through the setting and better enforcement of global standards.
30/05/2017 - Adrian Blundell-Wignall, Special Advisor to the OECD Secretary-General on Financial and Enterprise Affairs, argues that key corporate and financial issues must be addressed if globalisation is to work better for all. These issues are examined in the new 2017 OECD Business and Finance Outlook.
Globalisation has failed to create a level playing field in trade, investment and corporate behaviour, being one of the factors contributing to a backlash against openness in many countries and a decline in confidence in government institutions.