Gouvernance d'entreprises

The 2019 edition of the Factbook describes corporate governance practices in 49 countries by providing an easily accessible and up-to-date, factual underpinning for understanding countries’ institutional, legal and regulatory frameworks. It complements the G20/OECD Principles of Corporate Governance by tracking how countries are actually implementing them.

Built on a dataset of almost 85 000 unique corporate bond issues by non-financial companies from 114 countries between 2000 and 2018, this paper documents a number of elevated risks and vulnerabilities associated with this development and looks at how the quality of today’s outstanding stock of corporate bonds differs from earlier credit cycles. Bond ratings, bondholder rights and repayment requirements are areas of particular focus.

Beyond bitcoin, blockchain technology has acquired attention and importance in its own right. Today, it is conceptually accepted that blockchain stands out as a disruptive technology that will change a number of processes in financial services and could in turn impact corporate governance. This paper explores the recent applications of blockchain technology in financial services and outlines regulatory responses, to set the scene for future work in this area on corporate governance.