Corporate Governance Country Assessment : Moldova
This report provides an assessment of Moldova's corporate governance framework-its legal and policy framework, as well as enforcement and compliance practices. The report makes policy recommendations where appropriate, and provides investors w...
| Main Author: | |
|---|---|
| Format: | Corporate Governance Assessment (ROSC) |
| Language: | English en_US |
| Published: |
Washington, DC
2013
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2004/05/6595887/moldova-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/14500 |
| Summary: | This report provides an assessment of
Moldova's corporate governance framework-its legal and
policy framework, as well as enforcement and compliance
practices. The report makes policy recommendations where
appropriate, and provides investors with a benchmark to
compare corporate governance with the 1999 OECD Principles
of Corporate Governance. Moldova is beginning to upgrade its
legal and regulatory framework to meet international
corporate governance standards. The report suggests that the
main challenges will be to: (1) strengthen the legal
requirements for shareholders to disclose their ultimate
ownership and control positions, remove the authority of
boards to increase capital without shareholder approval;
establish clear liability and duties for board members, and
require annual independent audits for joint stock companies;
(2) increase the resources available to the NSC, and focus
its enforcement efforts on transparency and disclosure,
especially the disclosure of ownership, and the NSC's
own transparency and accountability; (3) draft a corporate
governance code to build awareness of corporate governance
and to further clarify the responsibilities of the board;
and (4) establish a training program on corporate governance
to assist in building a shareholder culture in Moldova. |
|---|