Corporate Governance Country Assessment : Togo

The purpose of this ROSC assessment of corporate governance in Togo is to help improve corporate governance in the country by assessing law and practice, suggesting reforms, and supporting the country in its effort to implement changes for better corporate governance. Corporate governance refers to the structures and processes for the direction and control of companies. Corporate governance concerns the relationships among the management, board of directors, controlling shareholders, minority shareholders and other stakeholders. This definition focuses on company performance and shareholder value. For emerging market countries, improving corporate governance can serve a number of important public policy objectives. Good corporate governance reduces emerging market vulnerability to financial crises, reinforces property rights, reduces transaction costs and the cost of capital, and leads to capital market development. Weak corporate governance frameworks reduce investor confidence, and can discourage outside investment. In state-owned enterprises (SOEs), good corporate governance could improve performance and social service, and lessen impact on state budget. Due to the small market size for listed securities in Togo, the scope of the present report is broadened to include a corporate governance assessment of non-listed public limited companies, SOEs, as well as private and state-owned banks (SOBs).

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2009-03
Subjects:	ACCOUNTING STANDARDS, ACQUISITION, ACQUISITIONS, ADMINISTRATIVE JUDGMENT, ARTICLES OF ASSOCIATION, ARTICLES OF INCORPORATION, ASSET MANAGERS, AUDIT COMMITTEE, AUDITOR INDEPENDENCE, BANK OFFICE, BANKS, BENEFICIAL OWNER, BENEFICIAL OWNERS, BOARD ELECTIONS, BOARD MEETINGS, BOARD MEMBER, BOARD MEMBERS, BOARDS OF DIRECTORS, BONDS, BOURSE, BROKERAGE, BROKERAGE FIRM, BUSINESS CASE, BUSINESS ENTITIES, BUSINESS LAWS, CAPITAL MARKET, CAPITAL MARKET DEVELOPMENT, CAPITAL MARKETS, CAPITAL STRUCTURE, CENTRAL BANK, CENTRAL DEPOSITORY, CEO, CHAMBER OF COMMERCE, CHARTER, CHARTERS, CIVIL LAW COUNTRY, CIVIL LAW SYSTEMS, CODE OF CONDUCT, COMMERCIAL BANKS, COMMODITIES, COMPANY, COMPANY INFORMATION, COMPANY LAW, COMPANY LAWS, CONFLICT OF INTEREST, CONFLICT OF INTERESTS, CONFLICTS OF INTEREST, CONFLICTS OF INTERESTS, CONTROLLING SHAREHOLDER, CONTROLLING SHAREHOLDERS, CORPORATE ASSETS, CORPORATE BOARD, CORPORATE BODIES, CORPORATE GOVERNANCE, CORPORATE GOVERNANCE CODE, CORPORATE GOVERNANCE FRAMEWORK, CORPORATE GOVERNANCE FRAMEWORKS, CORPORATE GOVERNANCE PRINCIPLES, CORPORATE GOVERNANCE REFORM, CORPORATE GOVERNANCE REFORMS, CORPORATE GOVERNANCE STANDARDS, CORPORATE GOVERNANCE SURVEY, CORPORATION, COST OF CAPITAL, DISCLOSURE CONTROL, DISCLOSURE REQUIREMENTS, DISCLOSURE STANDARDS, DISPUTE RESOLUTION, DISTRIBUTION OF DIVIDENDS, DIVIDEND, DIVIDENDS, DUE DILIGENCE, DUTY OF CARE, DUTY OF LOYALTY, ECONOMIC DEVELOPMENT, ECONOMIC PERFORMANCE, EFFICIENT MARKETS, EMERGING MARKET, EMERGING MARKET COUNTRIES, EMERGING MARKETS, ENFORCEMENT OF CONTRACTS, EQUALITY, EQUITY MARKETS, EXPOSURES, FAMILY BUSINESS, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL DISCLOSURE, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL MARKET, FINANCIAL MARKETS, FINANCIAL PERFORMANCE, FINANCIAL SECTOR, FINANCIAL STATEMENT, FINANCIAL STATEMENTS, FOREIGN STOCK, GOOD CORPORATE GOVERNANCE, GOOD GOVERNANCE, GOVERNANCE PRACTICE, GOVERNANCE PRACTICES, GOVERNMENT BUDGET, GROSS DOMESTIC PRODUCT, HARMONIZATION, INCOME, INCORPORATED, INDEPENDENT AUDIT, INDEPENDENT DIRECTOR, INDEPENDENT DIRECTORS, INDEPENDENT OVERSIGHT, INDIVIDUALS, INSIDER TRADING, INSTITUTIONAL INVESTORS, INSURANCE, INTERNAL CONTROL, INTERNAL CONTROLS, INVESTIGATION, INVESTOR CONFIDENCE, INVESTOR PROTECTION, JUDICIAL SYSTEM, JURISDICTION, LARGE COMPANIES, LEGAL FRAMEWORK, LEGAL SYSTEM, LIMITED, LIQUID MARKET, LIQUIDATION, MACROECONOMIC MANAGEMENT, MAJORITY SHAREHOLDER, MAJORITY VOTE, MANAGEMENT OVERSIGHT, MANAGERS, MARKET CAPITALIZATION, MARKET INFORMATION, MARKET INSTITUTIONS, MARKET MANIPULATION, MARKET PARTICIPANTS, MARKET SURVEILLANCE, MARKET TRANSPARENCY, MERGERS, MICROFINANCE, MINORITY SHAREHOLDER, MINORITY SHAREHOLDERS, NEGATIVE EQUITY, NUMBER OF SHAREHOLDERS, OWNERSHIP RIGHTS, OWNERSHIP STRUCTURES, PARTNERSHIP, PENSION, PENSION FUNDS, PERSONS, PORTFOLIO, PRIVATE COMPANIES, PRIVATE ENTITY, PRIVATE INVESTMENT, PRIVATE SECTOR DEVELOPMENT, PRIVATIZATION, PROPERTY RIGHTS, PROXY, PUBLIC LIMITED COMPANIES, PUBLIC LIMITED COMPANY, PUBLIC POLICY, RAPID GROWTH, REGULATORS, REGULATORY AUTHORITY, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REGULATORY REFORM, REGULATORY REQUIREMENTS, REMOTE LOCATION, REPUTATION, RETIREMENT SAVINGS, RIGHTS OF SHAREHOLDERS, SECURITIES, SECURITIES LAW, SECURITIES LAWS, SECURITIES MARKET, SECURITIES MARKETS, SECURITIES REGULATOR, SHARE CAPITAL, SHARE OWNERSHIP, SHAREHOLDER, SHAREHOLDER AGREEMENTS, SHAREHOLDER APPROVAL, SHAREHOLDER MEETING, SHAREHOLDER MEETINGS, SHAREHOLDER RIGHTS, SHAREHOLDER VALUE, SHAREHOLDERS MEETING, SHAREHOLDERS RIGHTS, SINGLE VOTE, SOCIETIES, STAKEHOLDER, STAKEHOLDERS, STAMP DUTY, STOCK COMPANIES, STOCK EXCHANGE, STOCK EXCHANGES, STOCK MARKET, STOCK MARKETS, STOCKS, TAKEOVERS, TENDER OFFER, TRADING SYSTEM, TRANSACTION COSTS, UNION, WEAK CORPORATE GOVERNANCE,
Online Access:	http://documents.worldbank.org/curated/en/2009/03/20225954/togo-report-observance-standards-codes-rosc-corporate-governance-country-assessment https://hdl.handle.net/10986/20434
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