Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
This report assesses Macedonia's corporate governance policy framework, and enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Macedonia. The report identifies a number of key recommendations as follows. The disclosure framework should be overhauled, as part of the on-going revision of the Securities Law. Shareholders should be required to disclose all direct and indirect ownership. The law should increase authority of the Macedonian Securities and Exchange Commission (MSEC), and especially its powers to impose sanctions, while MSEC should develop a strategy to use its new authority to improve corporate governance and shareholder rights. The Macedonian Stock Exchange (MSE) should complete the process of drafting a corporate governance code, should revise its listing rules in line with the Code and the new Securities Law, and consider the development of a "corporate governance tier". The exchange should fully implement a system of electronic information dissemination.
Saved in:
Bibliographic Details
| Main Author: |
World Bank |
|---|
| Language: | English
en_US |
|---|
| Published: |
Washington, DC
2005-06
|
|---|
| Subjects: | ACCESS TO INFORMATION,
ACCOUNTABILITY,
AUTHORITY,
BANKING SECTOR,
CAPITAL MARKETS,
CASH FLOW,
CENTRAL BANK,
CHARTER,
COMMERCIAL BANKS,
COMPANY,
CONFLICT OF INTEREST,
CONFLICTS OF INTERESTS,
CORPORATE GOVERNANCE,
CORPORATE GOVERNANCE FRAMEWORK,
CORPORATE GOVERNANCE REFORM,
COST OF CAPITAL,
COURT SYSTEM,
DISCLOSURE,
DISCLOSURE OF INFORMATION,
DOMESTIC INSTITUTIONAL INVESTORS,
ECONOMIC DEVELOPMENT,
ECONOMIC PERFORMANCE,
ENFORCEMENT POWERS,
EQUITY MARKETS,
ETHICAL STANDARDS,
FINANCIAL CRISES,
FINANCIAL INSTITUTIONS,
FINANCIAL SECTOR,
FINANCIAL STATEMENTS,
FINANCIAL VULNERABILITY,
FIRMS,
FOREIGN INVESTMENT,
FOREIGN INVESTORS,
GOVERNANCE INSTITUTIONS,
GOVERNANCE REFORM,
GOVERNANCE REFORMS,
GOVERNMENT AGENCY,
GOVERNMENT AUTHORITIES,
INSTITUTION BUILDING,
INSTITUTIONAL FRAMEWORK,
INSTITUTIONAL INVESTORS,
INVESTMENT FUNDS,
INVESTOR PROTECTION,
JOINT STOCK COMPANIES,
JOINT STOCK COMPANY,
JOINT-STOCK COMPANY,
JUDICIAL ENFORCEMENT,
LEGAL ENTITIES,
LEGAL FRAMEWORK,
LEGAL OBSTACLES,
LEGISLATION,
LEGISLATIVE CHANGES,
LISTED COMPANIES,
MARKET CAPITALIZATION,
MEDIA SCRUTINY,
MERGERS,
MINORITY SHAREHOLDERS,
OWNERSHIP RIGHTS,
PARLIAMENT,
POLITICAL INTERFERENCE,
PRIVATIZATION POLICY,
PROPERTY RIGHTS,
PUBLIC INFORMATION,
PUBLIC INTEREST,
PUBLIC POLICY,
REGULATORY AUTHORITY,
REGULATORY FRAMEWORK,
REGULATORY REQUIREMENTS,
REVIEW OF GOVERNANCE,
RULE OF LAW,
SHAREHOLDERS,
STATE-OWNED ENTERPRISES,
STOCK EXCHANGE,
TRANSPARENCY,
UNLISTED COMPANIES,
VALUE OF ASSETS,
VOTING,
WEAK CORPORATE GOVERNANCE, |
|---|
| Online Access: | http://documents.worldbank.org/curated/en/2005/06/6569677/report-observance-standards-codes-rosc-corporate-governance-country-assessment-macedonia
https://hdl.handle.net/10986/8454
|
|---|
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
|---|
