Corporate scandals and failures as well as broader economic concerns have driven OECD countries to devote increased attention to corporate governance which is now recognised as a vital factor in economic growth and financial stability. This survey examines the systemic issues at the forefront of the corporate governance debate and discusses how OECD countries have responded. It offers a rich variety of experiences that other countries may wish to draw on when considering their policy options.
Table of contents:
Executive Summary Introduction Chapter 1.Policy Concerns and Driving Forces -Immediate pressures on policy arise from corporate scandals and large failures -Financial market developments are also forcing the agenda -And the objective to promote growth is focusing attention on corporate governanceImplications of the forces at work for policy Chapter 2.Broad Policy Choices Underlying Recent Developments -Principles, regulation and law: a shifting balance -Corporate law and regulation -The adoption of principles and codes Chapter 3.Thematic Review of Developments and Emerging Issues -The rights of shareholders and their equitable treatment -Stakeholders -Better disclosure and transparency -Getting the boards to improve the oversight of management