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...

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Main Author:	World Bank
Format:	Corporate Governance Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNTABILITY ADMINISTRATIVE SANCTIONS AUTHORITY AUTHORIZATION AUTHORIZED CAPITAL BID BIDDERS BOARD MEMBERS BOARD OF DIRECTORS CAPITAL INCREASES CAPITAL MARKET CAPITAL MARKETS CAPITAL STRUCTURE CENTRAL BANK CHARTER CHARTERS CITIZENS CLASSES OF SHARES COMMERCIAL BANKS COMMON SHARES COMPANY LAW COMPANY MANAGEMENT CONFIDENTIAL INFORMATION CONFLICT OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE OWNERSHIP CORPORATION CORPORATIONS CORRUPTION CRIMINAL SANCTIONS DEGREE OF CONTROL DISCLOSURE DISCLOSURE REQUIREMENTS DIVIDENDS EMPLOYEE PARTICIPATION ENFORCEMENT MECHANISMS ENFORCEMENT POWERS EXECUTION EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL STATEMENTS FIRMS FOREIGN INVESTORS FOREIGN SHAREHOLDERS FOREIGN STRATEGIC INVESTORS HOLDING COMPANIES INSIDER TRADING INSOLVENCY INSOLVENCY PROCEDURES INSOLVENCY PROCESS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE COMPANIES INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTOR CONFIDENCE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JUDICIARY LACK OF TRANSPARENCY LARGE ENTERPRISES LEGAL DOCUMENTS LEGAL PERSONS LEGAL REQUIREMENTS LEGAL SYSTEM LEGISLATION LIMITED LIABILITY LIMITED LIABILITY COMPANY LIQUIDATION LISTED COMPANIES LOBBYING LOCAL AUTHORITIES LOCAL INVESTORS MARKET CAPITALIZATION MARKET PRICE MASS PRIVATIZATION MASS PRIVATIZATION PROGRAM MINISTRY OF FINANCE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS NATIONAL ECONOMY NOMINAL VALUE OWNERSHIP STRUCTURE PORTFOLIO PRIVATIZATION INVESTMENT FUNDS PRIVATIZATION PROCESS PROFIT SHARING PROTECTION OF SHAREHOLDERS PUBLIC INFORMATION PUBLIC INTEREST REGULATORY AGENCIES REGULATORY FRAMEWORK RESTRICTIONS ON SHARE TRANSFERS SHARE OWNERSHIP SHARE SALES SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER PROTECTION SHAREHOLDERS SHAREHOLDING SHAREHOLDING STRUCTURE STAKEHOLDERS STATEMENT STATEMENTS STOCK EXCHANGE STRATEGIC INVESTORS TECHNICAL ASSISTANCE TRANSPARENCY VOTING VOTING SHARES
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

id	okr-10986-14500
recordtype	oai_dc
spelling	okr-10986-145002021-04-23T14:03:19Z Corporate Governance Country Assessment : Moldova World Bank ACCOUNTABILITY ADMINISTRATIVE SANCTIONS AUTHORITY AUTHORIZATION AUTHORIZED CAPITAL BID BIDDERS BOARD MEMBERS BOARD OF DIRECTORS CAPITAL INCREASES CAPITAL MARKET CAPITAL MARKETS CAPITAL STRUCTURE CENTRAL BANK CHARTER CHARTERS CITIZENS CLASSES OF SHARES COMMERCIAL BANKS COMMON SHARES COMPANY LAW COMPANY MANAGEMENT CONFIDENTIAL INFORMATION CONFLICT OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE OWNERSHIP CORPORATION CORPORATIONS CORRUPTION CRIMINAL SANCTIONS DEGREE OF CONTROL DISCLOSURE DISCLOSURE REQUIREMENTS DIVIDENDS EMPLOYEE PARTICIPATION ENFORCEMENT MECHANISMS ENFORCEMENT POWERS EXECUTION EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL STATEMENTS FIRMS FOREIGN INVESTORS FOREIGN SHAREHOLDERS FOREIGN STRATEGIC INVESTORS HOLDING COMPANIES INSIDER TRADING INSOLVENCY INSOLVENCY PROCEDURES INSOLVENCY PROCESS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE COMPANIES INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTOR CONFIDENCE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JUDICIARY LACK OF TRANSPARENCY LARGE ENTERPRISES LEGAL DOCUMENTS LEGAL PERSONS LEGAL REQUIREMENTS LEGAL SYSTEM LEGISLATION LIMITED LIABILITY LIMITED LIABILITY COMPANY LIQUIDATION LISTED COMPANIES LOBBYING LOCAL AUTHORITIES LOCAL INVESTORS MARKET CAPITALIZATION MARKET PRICE MASS PRIVATIZATION MASS PRIVATIZATION PROGRAM MINISTRY OF FINANCE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS NATIONAL ECONOMY NOMINAL VALUE OWNERSHIP STRUCTURE PORTFOLIO PRIVATIZATION INVESTMENT FUNDS PRIVATIZATION PROCESS PROFIT SHARING PROTECTION OF SHAREHOLDERS PUBLIC INFORMATION PUBLIC INTEREST REGULATORY AGENCIES REGULATORY FRAMEWORK RESTRICTIONS ON SHARE TRANSFERS SHARE OWNERSHIP SHARE SALES SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER PROTECTION SHAREHOLDERS SHAREHOLDING SHAREHOLDING STRUCTURE STAKEHOLDERS STATEMENT STATEMENTS STOCK EXCHANGE STRATEGIC INVESTORS TECHNICAL ASSISTANCE TRANSPARENCY VOTING VOTING SHARES 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. 2013-07-23T20:42:36Z 2013-07-23T20:42:36Z 2004-05 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 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work Europe and Central Asia Moldova
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTABILITY ADMINISTRATIVE SANCTIONS AUTHORITY AUTHORIZATION AUTHORIZED CAPITAL BID BIDDERS BOARD MEMBERS BOARD OF DIRECTORS CAPITAL INCREASES CAPITAL MARKET CAPITAL MARKETS CAPITAL STRUCTURE CENTRAL BANK CHARTER CHARTERS CITIZENS CLASSES OF SHARES COMMERCIAL BANKS COMMON SHARES COMPANY LAW COMPANY MANAGEMENT CONFIDENTIAL INFORMATION CONFLICT OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE OWNERSHIP CORPORATION CORPORATIONS CORRUPTION CRIMINAL SANCTIONS DEGREE OF CONTROL DISCLOSURE DISCLOSURE REQUIREMENTS DIVIDENDS EMPLOYEE PARTICIPATION ENFORCEMENT MECHANISMS ENFORCEMENT POWERS EXECUTION EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL STATEMENTS FIRMS FOREIGN INVESTORS FOREIGN SHAREHOLDERS FOREIGN STRATEGIC INVESTORS HOLDING COMPANIES INSIDER TRADING INSOLVENCY INSOLVENCY PROCEDURES INSOLVENCY PROCESS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE COMPANIES INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTOR CONFIDENCE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JUDICIARY LACK OF TRANSPARENCY LARGE ENTERPRISES LEGAL DOCUMENTS LEGAL PERSONS LEGAL REQUIREMENTS LEGAL SYSTEM LEGISLATION LIMITED LIABILITY LIMITED LIABILITY COMPANY LIQUIDATION LISTED COMPANIES LOBBYING LOCAL AUTHORITIES LOCAL INVESTORS MARKET CAPITALIZATION MARKET PRICE MASS PRIVATIZATION MASS PRIVATIZATION PROGRAM MINISTRY OF FINANCE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS NATIONAL ECONOMY NOMINAL VALUE OWNERSHIP STRUCTURE PORTFOLIO PRIVATIZATION INVESTMENT FUNDS PRIVATIZATION PROCESS PROFIT SHARING PROTECTION OF SHAREHOLDERS PUBLIC INFORMATION PUBLIC INTEREST REGULATORY AGENCIES REGULATORY FRAMEWORK RESTRICTIONS ON SHARE TRANSFERS SHARE OWNERSHIP SHARE SALES SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER PROTECTION SHAREHOLDERS SHAREHOLDING SHAREHOLDING STRUCTURE STAKEHOLDERS STATEMENT STATEMENTS STOCK EXCHANGE STRATEGIC INVESTORS TECHNICAL ASSISTANCE TRANSPARENCY VOTING VOTING SHARES
spellingShingle	ACCOUNTABILITY ADMINISTRATIVE SANCTIONS AUTHORITY AUTHORIZATION AUTHORIZED CAPITAL BID BIDDERS BOARD MEMBERS BOARD OF DIRECTORS CAPITAL INCREASES CAPITAL MARKET CAPITAL MARKETS CAPITAL STRUCTURE CENTRAL BANK CHARTER CHARTERS CITIZENS CLASSES OF SHARES COMMERCIAL BANKS COMMON SHARES COMPANY LAW COMPANY MANAGEMENT CONFIDENTIAL INFORMATION CONFLICT OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE OWNERSHIP CORPORATION CORPORATIONS CORRUPTION CRIMINAL SANCTIONS DEGREE OF CONTROL DISCLOSURE DISCLOSURE REQUIREMENTS DIVIDENDS EMPLOYEE PARTICIPATION ENFORCEMENT MECHANISMS ENFORCEMENT POWERS EXECUTION EXTERNAL AUDITORS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL STATEMENTS FIRMS FOREIGN INVESTORS FOREIGN SHAREHOLDERS FOREIGN STRATEGIC INVESTORS HOLDING COMPANIES INSIDER TRADING INSOLVENCY INSOLVENCY PROCEDURES INSOLVENCY PROCESS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE COMPANIES INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTOR CONFIDENCE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JUDICIARY LACK OF TRANSPARENCY LARGE ENTERPRISES LEGAL DOCUMENTS LEGAL PERSONS LEGAL REQUIREMENTS LEGAL SYSTEM LEGISLATION LIMITED LIABILITY LIMITED LIABILITY COMPANY LIQUIDATION LISTED COMPANIES LOBBYING LOCAL AUTHORITIES LOCAL INVESTORS MARKET CAPITALIZATION MARKET PRICE MASS PRIVATIZATION MASS PRIVATIZATION PROGRAM MINISTRY OF FINANCE MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MUTUAL FUNDS NATIONAL ECONOMY NOMINAL VALUE OWNERSHIP STRUCTURE PORTFOLIO PRIVATIZATION INVESTMENT FUNDS PRIVATIZATION PROCESS PROFIT SHARING PROTECTION OF SHAREHOLDERS PUBLIC INFORMATION PUBLIC INTEREST REGULATORY AGENCIES REGULATORY FRAMEWORK RESTRICTIONS ON SHARE TRANSFERS SHARE OWNERSHIP SHARE SALES SHAREHOLDER MEETING SHAREHOLDER MEETINGS SHAREHOLDER PROTECTION SHAREHOLDERS SHAREHOLDING SHAREHOLDING STRUCTURE STAKEHOLDERS STATEMENT STATEMENTS STOCK EXCHANGE STRATEGIC INVESTORS TECHNICAL ASSISTANCE TRANSPARENCY VOTING VOTING SHARES World Bank Corporate Governance Country Assessment : Moldova
geographic_facet	Europe and Central Asia Moldova
description	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.
format	Economic & Sector Work :: Corporate Governance Assessment (ROSC)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Corporate Governance Country Assessment : Moldova
title_short	Corporate Governance Country Assessment : Moldova
title_full	Corporate Governance Country Assessment : Moldova
title_fullStr	Corporate Governance Country Assessment : Moldova
title_full_unstemmed	Corporate Governance Country Assessment : Moldova
title_sort	corporate governance country assessment : moldova
publisher	Washington, DC
publishDate	2013
url	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
_version_	1764429265204412416

Corporate Governance Country Assessment : Moldova

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