Corporate Governance Country Assessment : Slovak Republic

This report provides an assessment of the corporate governance policy framework, and enforcement and compliance practices in the Slovak Republic. Slovakia has already upgraded its legislation to meet European Union (EU) Directives. The legislative and regulatory framework dealing with corporate governance issues has improved. The major issues identified by this review include: 1) the general weakness of the supervisory board, which causes some non-compliance with several of the Organization for Economic Cooperation and Development - OECD - Principles; 2) lack of protection for shareholders of "Free Market" companies, and, 3) inadequate authority and institutional capacity at the Financial Market Authority (FMA). Strengths and weaknesses are highlighted and policy recommendations made where appropriate. The report proposes that an Institute of Directors be created to train supervisory board members, disseminate best practice, and promote dialogue between the public and private sectors. Together, the recommendations give issuers the choice to implement best practice, and for investors a benchmark against which to measure corporate governance in Slovakia.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2003-10
Subjects:	ACCESS TO INFORMATION, ACCOUNTABILITY, ASSET STRIPPING, AUTHORITY, AUTHORIZATION, BANKRUPTCY, BANKRUPTCY LAW, BANKRUPTCY PROCEEDINGS, BOARD MEMBERS, BOARD OF DIRECTORS, BOOK VALUE, CAPITAL MARKET, CAPITAL MARKETS, CENTRAL BANK, CHARTER, CLASSES OF SHARES, COMPANY, COMPANY LAW, CONFLICTS OF INTEREST, CONSENSUS, CORPORATE CONTROL, CORPORATE GOVERNANCE, CORPORATE GOVERNANCE SYSTEM, CORPORATION, CORPORATIONS, DEGREE OF CONTROL, DISCLOSURE, DISCLOSURE REQUIREMENTS, DISCRIMINATION, DIVIDENDS, DUE DILIGENCE, ECONOMIC PERFORMANCE, EMPLOYMENT, ENVIRONMENTAL DAMAGE, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIARIES, FINANCIAL MARKET, FINANCIAL SERVICES, FINANCIAL SITUATION, FINANCIAL STATEMENTS, FIRMS, FOREIGN CAPITAL, FOREIGN COMPANIES, FOREIGN SHAREHOLDERS, GOVERNMENT SALARY SCALES, INSIDER INFORMATION, INSIDER TRADING, INSOLVENCY, INSOLVENCY LAW, INSTITUTIONAL CAPACITY, INSTITUTIONAL FRAMEWORK, INSTITUTIONAL INVESTOR, INSTITUTIONAL INVESTORS, INSURANCE COMPANIES, INTERNATIONAL INVESTORS, INTERNATIONAL STANDARDS, INVESTMENT CLIMATE, INVESTMENT FUND, JOINT STOCK, JOINT STOCK COMPANIES, JOINT STOCK COMPANY, LEGAL FRAMEWORK, LEGISLATION, LEGISLATIVE FRAMEWORK, LIMITED LIABILITY, LIMITED LIABILITY COMPANY, LIQUIDATION, LISTED COMPANIES, LOCAL EXPERTS, MANAGEMENT BOARD, MARKET CAPITALIZATION, MERGERS, MINISTRY OF FINANCE, MINORITY SHAREHOLDER, MUTUAL FUNDS, NOMINAL VALUE, OFFERINGS, OTC, OWNERSHIP INTEREST, OWNERSHIP RIGHTS, OWNERSHIP STRUCTURE, PENSION FUNDS, PRIVATE COMPANY, PRIVATE PENSION, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRIVATE SECTORS, PRIVATIZATION, PRIVATIZATION INVESTMENT FUNDS, PRIVATIZATION PROGRAM, PROFIT SHARING, PUBLIC INFORMATION, REGULATORY AGENCIES, REGULATORY FRAMEWORK, REPRESENTATIVES, RESTRICTIONS ON SHARE TRANSFERS, SHARE CAPITAL, SHARE OFFERINGS, SHARE OWNERSHIP, SHARE PRICE, SHARE TRANSFERS, SHAREHOLDER MEETING, SHAREHOLDER MEETINGS, SHAREHOLDERS, SHAREHOLDING, STAKEHOLDERS, STATE AUTHORITY, STATE BUDGET, STATEMENT, STATEMENTS, STOCK EXCHANGE, STRATEGIC INVESTOR, SUBSCRIPTION, TRANSPARENCY, VOTING, VOTING SHARES,
Online Access:	http://documents.worldbank.org/curated/en/2003/10/6593973/slovak-republic-report-observance-standards-codes-rosc-corporate-governance-country-assessment https://hdl.handle.net/10986/14497
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