Corporate Governance Country Assessment : Republic of Croatia
Croatia's corporate governance system is framed by civil law with regulation for traded companies in part based on London securities rules and international standards for accounting and auditing. There are two public exchanges, which both have...
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| Format: | Pre-2003 Economic or Sector Report |
| Language: | English en_US |
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Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2001/09/6556076/croatia-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/14530 |
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okr-10986-145302021-04-23T14:03:15Z Corporate Governance Country Assessment : Republic of Croatia World Bank ADMINISTRATIVE DECISIONS ADVISORY SERVICES ASSETS AUCTIONS AUDIT COMMITTEES BENCHMARKS BID BOARD MEMBERS BOARD OF DIRECTORS BOARDS OF DIRECTORS BONDS BUSINESS OPERATIONS CAPITAL MARKET CAPITAL MARKETS CHANGE OF OWNERSHIP CLASSES OF SHARES COMMON SHARES COMPANY COMPANY LAW COMPANY MANAGEMENT COMPETITIVENESS CONFLICT OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATIONS COURT CRIMINAL SANCTIONS DAMAGES DEFERRED PAYMENT DISCLOSURE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DIVIDENDS DOMESTIC MARKET ECONOMIC DISTRESS EXTERNAL AUDITORS FAIR TRADE FINANCIAL EXPERTS FINANCIAL INSTITUTIONS FINANCIAL OBLIGATIONS FINANCIAL SECTOR FINANCIAL STATEMENTS FIXED ASSETS FOREIGN COMPANIES GDP INSIDER TRADING INSTITUTIONAL INVESTOR INTERNATIONAL STANDARDS INVENTORY INVESTMENT BANK INVESTMENT FUND INVESTMENT FUNDS ISSUE PRICE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY LARGE ENTERPRISES LEGAL FORM LEGAL FRAMEWORK LEGAL REQUIREMENTS LICENSING LIQUIDITY MANAGEMENT BOARD MARKET SEGMENTS MARKET STRUCTURE MARKET VALUE MARKET VALUE OF ASSETS MERGERS MINIMUM DISCLOSURE NOMINAL VALUE NUMBER OF SHARES OTC OVER THE COUNTER MARKET OWNERSHIP STRUCTURE PENSION FUND PENSION FUND REFORM PENSION FUNDS PORTFOLIO PORTFOLIO MANAGERS PRIVATE PLACEMENT PRIVATE SECTOR PRIVATIZATION PRIVATIZATION FUND PRIVATIZATION INVESTMENT FUNDS PRIVATIZATION PROGRAMS PRIVATIZATIONS PUBLIC SECTOR REGULATORY AGENCIES REGULATORY FRAMEWORK SHARE CAPITAL SHARE OWNERSHIP SHAREHOLDER MEETINGS SHAREHOLDERS STAKEHOLDERS STATE ENTERPRISES STATE OWNED ENTERPRISES STATEMENT STATEMENTS STOCK EXCHANGE STRATEGIC INVESTORS SUBSCRIPTION TAKEOVER TOTAL MARKET CAPITALIZATION VOTING SHARES VOUCHER PRIVATIZATION Croatia's corporate governance system is framed by civil law with regulation for traded companies in part based on London securities rules and international standards for accounting and auditing. There are two public exchanges, which both have three tiers. The majority of companies are listed on the third tier, which has the lowest level of disclosure and listing requirements. The small number of companies on the first tiers has been reduced recently through the successful takeover of companies by strategic investors. The corporate governance structure in Croatia reflects several important aspects of the recent history of Croatian enterprise, including: a history of social ownership; the transition to capitalism; the on-going legacy of privatization; recent economic distress; and, regional conflict. Interest in corporate governance is rising with the potential for growth in the corporate sector being driven by privatization. Improvement in corporate governance is seen to have the potential for improving access to capital, and promoting efficient development of the new private sector. This Report on the Observance of Standards and Codes benchmarks the Croatian corporate governance system against the OECD Principles of Corporate Governance, recognized as one of the core standards underpinning international financial architecture. This ROSC highlights a number of areas where Croatia's corporate governance system can be strengthened: These can be grouped initially under four headings: disclosure of ownership and control; the role and effectiveness of shareholders meetings; the business practices of supervisory boards; and the audit practices of external auditors. The recommendations for reform are set out briefly in Section 4 and at greater length in the Annex. 2013-07-24T17:10:10Z 2013-07-24T17:10:10Z 2001-09 http://documents.worldbank.org/curated/en/2001/09/6556076/croatia-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/14530 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Pre-2003 Economic or Sector Report Economic & Sector Work Europe and Central Asia Croatia |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ADMINISTRATIVE DECISIONS ADVISORY SERVICES ASSETS AUCTIONS AUDIT COMMITTEES BENCHMARKS BID BOARD MEMBERS BOARD OF DIRECTORS BOARDS OF DIRECTORS BONDS BUSINESS OPERATIONS CAPITAL MARKET CAPITAL MARKETS CHANGE OF OWNERSHIP CLASSES OF SHARES COMMON SHARES COMPANY COMPANY LAW COMPANY MANAGEMENT COMPETITIVENESS CONFLICT OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATIONS COURT CRIMINAL SANCTIONS DAMAGES DEFERRED PAYMENT DISCLOSURE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DIVIDENDS DOMESTIC MARKET ECONOMIC DISTRESS EXTERNAL AUDITORS FAIR TRADE FINANCIAL EXPERTS FINANCIAL INSTITUTIONS FINANCIAL OBLIGATIONS FINANCIAL SECTOR FINANCIAL STATEMENTS FIXED ASSETS FOREIGN COMPANIES GDP INSIDER TRADING INSTITUTIONAL INVESTOR INTERNATIONAL STANDARDS INVENTORY INVESTMENT BANK INVESTMENT FUND INVESTMENT FUNDS ISSUE PRICE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY LARGE ENTERPRISES LEGAL FORM LEGAL FRAMEWORK LEGAL REQUIREMENTS LICENSING LIQUIDITY MANAGEMENT BOARD MARKET SEGMENTS MARKET STRUCTURE MARKET VALUE MARKET VALUE OF ASSETS MERGERS MINIMUM DISCLOSURE NOMINAL VALUE NUMBER OF SHARES OTC OVER THE COUNTER MARKET OWNERSHIP STRUCTURE PENSION FUND PENSION FUND REFORM PENSION FUNDS PORTFOLIO PORTFOLIO MANAGERS PRIVATE PLACEMENT PRIVATE SECTOR PRIVATIZATION PRIVATIZATION FUND PRIVATIZATION INVESTMENT FUNDS PRIVATIZATION PROGRAMS PRIVATIZATIONS PUBLIC SECTOR REGULATORY AGENCIES REGULATORY FRAMEWORK SHARE CAPITAL SHARE OWNERSHIP SHAREHOLDER MEETINGS SHAREHOLDERS STAKEHOLDERS STATE ENTERPRISES STATE OWNED ENTERPRISES STATEMENT STATEMENTS STOCK EXCHANGE STRATEGIC INVESTORS SUBSCRIPTION TAKEOVER TOTAL MARKET CAPITALIZATION VOTING SHARES VOUCHER PRIVATIZATION |
| spellingShingle |
ADMINISTRATIVE DECISIONS ADVISORY SERVICES ASSETS AUCTIONS AUDIT COMMITTEES BENCHMARKS BID BOARD MEMBERS BOARD OF DIRECTORS BOARDS OF DIRECTORS BONDS BUSINESS OPERATIONS CAPITAL MARKET CAPITAL MARKETS CHANGE OF OWNERSHIP CLASSES OF SHARES COMMON SHARES COMPANY COMPANY LAW COMPANY MANAGEMENT COMPETITIVENESS CONFLICT OF INTEREST CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATIONS COURT CRIMINAL SANCTIONS DAMAGES DEFERRED PAYMENT DISCLOSURE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DIVIDENDS DOMESTIC MARKET ECONOMIC DISTRESS EXTERNAL AUDITORS FAIR TRADE FINANCIAL EXPERTS FINANCIAL INSTITUTIONS FINANCIAL OBLIGATIONS FINANCIAL SECTOR FINANCIAL STATEMENTS FIXED ASSETS FOREIGN COMPANIES GDP INSIDER TRADING INSTITUTIONAL INVESTOR INTERNATIONAL STANDARDS INVENTORY INVESTMENT BANK INVESTMENT FUND INVESTMENT FUNDS ISSUE PRICE JOINT STOCK JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY LARGE ENTERPRISES LEGAL FORM LEGAL FRAMEWORK LEGAL REQUIREMENTS LICENSING LIQUIDITY MANAGEMENT BOARD MARKET SEGMENTS MARKET STRUCTURE MARKET VALUE MARKET VALUE OF ASSETS MERGERS MINIMUM DISCLOSURE NOMINAL VALUE NUMBER OF SHARES OTC OVER THE COUNTER MARKET OWNERSHIP STRUCTURE PENSION FUND PENSION FUND REFORM PENSION FUNDS PORTFOLIO PORTFOLIO MANAGERS PRIVATE PLACEMENT PRIVATE SECTOR PRIVATIZATION PRIVATIZATION FUND PRIVATIZATION INVESTMENT FUNDS PRIVATIZATION PROGRAMS PRIVATIZATIONS PUBLIC SECTOR REGULATORY AGENCIES REGULATORY FRAMEWORK SHARE CAPITAL SHARE OWNERSHIP SHAREHOLDER MEETINGS SHAREHOLDERS STAKEHOLDERS STATE ENTERPRISES STATE OWNED ENTERPRISES STATEMENT STATEMENTS STOCK EXCHANGE STRATEGIC INVESTORS SUBSCRIPTION TAKEOVER TOTAL MARKET CAPITALIZATION VOTING SHARES VOUCHER PRIVATIZATION World Bank Corporate Governance Country Assessment : Republic of Croatia |
| geographic_facet |
Europe and Central Asia Croatia |
| description |
Croatia's corporate governance
system is framed by civil law with regulation for traded
companies in part based on London securities rules and
international standards for accounting and auditing. There
are two public exchanges, which both have three tiers. The
majority of companies are listed on the third tier, which
has the lowest level of disclosure and listing requirements.
The small number of companies on the first tiers has been
reduced recently through the successful takeover of
companies by strategic investors. The corporate governance
structure in Croatia reflects several important aspects of
the recent history of Croatian enterprise, including: a
history of social ownership; the transition to capitalism;
the on-going legacy of privatization; recent economic
distress; and, regional conflict. Interest in corporate
governance is rising with the potential for growth in the
corporate sector being driven by privatization. Improvement
in corporate governance is seen to have the potential for
improving access to capital, and promoting efficient
development of the new private sector. This Report on the
Observance of Standards and Codes benchmarks the Croatian
corporate governance system against the OECD Principles of
Corporate Governance, recognized as one of the core
standards underpinning international financial architecture.
This ROSC highlights a number of areas where Croatia's
corporate governance system can be strengthened: These can
be grouped initially under four headings: disclosure of
ownership and control; the role and effectiveness of
shareholders meetings; the business practices of supervisory
boards; and the audit practices of external auditors. The
recommendations for reform are set out briefly in Section 4
and at greater length in the Annex. |
| format |
Economic & Sector Work :: Pre-2003 Economic or Sector Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Corporate Governance Country Assessment : Republic of Croatia |
| title_short |
Corporate Governance Country Assessment : Republic of Croatia |
| title_full |
Corporate Governance Country Assessment : Republic of Croatia |
| title_fullStr |
Corporate Governance Country Assessment : Republic of Croatia |
| title_full_unstemmed |
Corporate Governance Country Assessment : Republic of Croatia |
| title_sort |
corporate governance country assessment : republic of croatia |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2001/09/6556076/croatia-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/14530 |
| _version_ |
1764427558066061312 |