The Review of Corporate Governance in Latvia was prepared as part of the process of Latvia’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 report finds that Latvia's framework for the corporate governance of listed companies is largely consistent with the Principles. However, the report recommends a series of measures to further strengthen the corporate governance framework, which could help to deepen its currently small capital market and attract investment. For SOEs, the report recognises considerable reforms undertaken during the accession review process to establish an ownership co-ordination unit and to begin re-establishing boards of directors (which had been abolished in 2009). The report calls for consolidation of these reforms and also stresses the importance of clarifying SOE objectives and strategies, and enhancing disclosure.
The G20/OECD Principles of Corporate Governance help policy makers evaluate and improve the legal, regulatory, and institutional framework for corporate governance, with a view to supporting economic efficiency, sustainable growth and financial stability. They are one of the Key Standards for Sound Financial Systems adopted by the Financial Stability Board (FSB). The associated Methodology for Assessing the Implementation of the G20/OECD Principles of Corporate Governance was developed by the OECD Corporate Governance Committee, with the participation of the World Bank, to underpin an assessment of the implementation of the Principles in a jurisdiction and to provide a framework for policy discussions, for example in the context of the Reviews of Observance of Standards and Codes (ROSCs) or other country assessments. This latest version incorporates changes that were made to the Principles during the 2015 review as well as a number of additional clarifications.
Paris, 8 March 2017: Taking place on International Women's Day, this OECD-hosted conference considered questions such as gender differences in financial literacy and inclusion; women working in the informal economy and the role of business: gender differences in the changing pensions landscape; empowering women to fight back against corruption and engaging men to support gender equality in the workplace.
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This Survey provides a unique consolidated snapshot of the legal, regulatory and institutional framework for the corporate governance of listed companies across 14 Asian economies: Bangladesh, China, Hong Kong (China), India, Indonesia, Korea, Malaysia, Mongolia, Pakistan, Philippines, Singapore, Thailand, Chinese Taipei and Viet Nam.
These seminars provide a forum for discussion and knowledge-sharing of OECD and international expertise on business integrity with a special focus on the local situation and challenges in Russia. The seminars are financed by the Siemens Integrity Initiative.
An estimated 22% of the world’s largest firms are now effectively under state control, this is the highest percentage in decades. These firms are likely to remain a prominent feature of the global marketplace in the near future. The upsurge of state-owned enterprises (SOEs) as global competitors has given rise to concerns related to a level playing field. Some business competitors and observers claim that preferential treatment granted by governments to SOEs in return for public policy obligations carried out at home can give SOEs a competitive edge in their foreign expansion. The OECD has taken a multidisciplinary approach, looking at the issue from the competition, investment, corporate governance and trade policy perspectives. The report aims to sort fact from fiction, and develop a stronger understanding, based on empirical evidence, on how to address growing policy concerns with regard to SOE internationalisation. The report concludes that although there is no clear evidence of systematic abusive behaviour by SOE investors, frictions need to be addressed, in view of keeping the global economy open to trade and investment.
The 9th meeting of the Asia network on corporate governance of state-owned enterprises took place in Seoul, Korea, on 6-7 December 2016. Participants discussed measures to strengthen transparency and disclosure in the state-owned enterprise sector.
This policy dialogue aims to deepen policy discussions between the OECD and key decision-makers in India. The first phase of the programme provides policy options on improving monitoring and prevention of abusive related party transactions.
Established in 1999, the OECD-Asian Roundtable on Corporate Governance serves as a regional forum for exchanging experiences and advancing the reform agenda on corporate governance while promoting awareness and use of the OECD Principles of Corporate Governance.
19 October 2016, Paris: The upsurge of SOEs as global competitors has given rise to concerns related to a level playing field. This workshop focused on the topic of SOEs as global competitors.