Corporate Governance Country Assessment : El Salvador

This report assesses El Salvador s corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate...

Full description

Bibliographic Details
Main Author: World Bank
Format: Corporate Governance Assessment (ROSC)
Language:English
en_US
Published: Washington, DC 2014
Subjects:
CEO
Online Access:http://documents.worldbank.org/curated/en/2012/06/20225992/el-salvador-report-observance-standards-codes-rosc-corporate-governance-country-assessment
http://hdl.handle.net/10986/20447
id okr-10986-20447
recordtype oai_dc
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 ACCOUNTANT
ACCOUNTING
ACCOUNTING STANDARDS
AUDIT COMMITTEES
AUDITS
BALANCE SHEET
BANKING LAW
BANKING SECTOR
BANKS
BOARD MEMBER
BOARD MEMBERS
BOARD MEMBERSHIP
BOARDS OF DIRECTORS
BROKERS
CAPACITY CONSTRAINTS
CAPITAL MARKET
CAPITAL MARKET DEVELOPMENT
CAPITAL MARKETS
CAPITAL STOCK
CENTRAL BANK
CENTRAL DEPOSITORY
CEO
CEOS
CHIEF EXECUTIVE
CHIEF FINANCIAL OFFICER
CIVIL LAW
COMMERCIAL CODE
CONFLICTS OF INTEREST
CONSTITUTION
CONTROLLING SHAREHOLDERS
COOPERATION AGREEMENT
CORPORATE BOND
CORPORATE BOND ISSUES
CORPORATE ENTITIES
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE CODE
CORPORATE GOVERNANCE CODES
CORPORATE GOVERNANCE FRAMEWORKS
CORPORATE GOVERNANCE REFORMS
CORPORATE INFORMATION
CORPORATE PRACTICES
CORPORATIONS
COST OF CAPITAL
CREDIBILITY
CREDITORS
CRITICAL MASS
DEBT SECURITIES
DECISION MAKING
DECISION MAKING PROCESSES
DECREE
DEPOSITS
DISCLOSURE
DIVIDEND
DIVIDEND POLICY
DIVIDENDS
DOMESTIC COMPANIES
DOMESTIC EXCHANGE
DOMESTIC INSTITUTIONAL INVESTORS
ECONOMIC CRISIS
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC INTEGRATION
EMERGING MARKET
EMERGING MARKET COUNTRIES
EMERGING MARKETS
EQUAL TREATMENT
EQUITY ISSUANCE
EQUITY MARKET
EQUITY MARKETS
FIDUCIARY DUTIES
FIDUCIARY RESPONSIBILITIES
FINANCIAL CRISES
FINANCIAL CRISIS
FINANCIAL DISCLOSURES
FINANCIAL INSTITUTIONS
FINANCIAL REQUIREMENTS
FINANCIAL RESOURCES
FINANCIAL SECTOR
FINANCIAL SITUATION
FINANCIAL STATEMENTS
FINANCIAL SYSTEM
FIXED CAPITAL
FOOD PRICES
FUND ASSETS
FUND MANAGERS
GOOD CORPORATE GOVERNANCE
GOVERNANCE ISSUES
GOVERNANCE PRACTICES
GOVERNANCE REGULATION
GOVERNANCE STANDARDS
GOVERNMENT AUTHORITIES
GROSS DOMESTIC PRODUCT
HOLDING
HOLDINGS
HUMAN RESOURCES
IMPROVING GOVERNANCE
INCOME
INCORPORATION
INFORMATION TECHNOLOGY
INSIDER TRADING
INSTITUTIONAL CAPACITY
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INVESTORS
INSURANCE
INSURANCE COMPANIES
INTERNAL AUDIT
INTERNAL CONTROL
INTERNAL CONTROLS
INTERNATIONAL GOVERNANCE STANDARDS
INTERNATIONAL STANDARDS
INVESTMENT CLIMATE
INVESTMENT POLICIES
INVESTOR CONFIDENCE
INVESTOR PROTECTION
ISSUANCES
JOINT STOCK COMPANIES
JOINT STOCK COMPANY
JURISDICTION
JURISDICTIONS
LEGAL ENVIRONMENT
LEGAL FRAMEWORK
LEGAL REFORMS
LIABILITY
LIMITED
MAJORITY SHAREHOLDER
MANAGEMENT OVERSIGHT
MARKET CAP
MARKET CAPITALIZATION
MARKET PARTICIPANTS
MINORITY INVESTORS
MINORITY SHAREHOLDER
MINORITY SHAREHOLDER PROTECTION
MINORITY SHAREHOLDERS
MONETARY FUND
NATIONAL ECONOMY
OWNERSHIP STRUCTURE
PENSION
PENSION FUND
PENSION FUND ASSETS
PENSION FUNDS
PORTFOLIO
PREEMPTIVE RIGHTS
PRIVATE PENSION
PRIVATE SECTOR GROWTH
PRIVATIZATION
PROPERTY RIGHTS
PROPORTIONAL REPRESENTATION
PRUDENTIAL REGULATIONS
PUBLIC DEBT
PUBLIC DEBT SECURITIES
PUBLIC INFORMATION
PUBLIC POLICY
REGIONAL INTEGRATION
REGULATORS
REGULATORY AUTHORITIES
REGULATORY FRAMEWORK
REMITTANCES
REPRESENTATIVES
REPUTATION
RETIREMENT SAVINGS
RISK MANAGEMENT
SECURITIES
SECURITIES LAW
SHAREHOLDER
SHAREHOLDER AGREEMENT
SHAREHOLDER AGREEMENTS
SHAREHOLDER APPROVAL
SHAREHOLDER MEETINGS
SHAREHOLDER PROTECTION
SHAREHOLDER PROTECTIONS
SHAREHOLDER RIGHT
SHAREHOLDER RIGHTS
SHAREHOLDERS
SMALL BUSINESSES
SOCIAL SECURITY
STAKEHOLDERS
STATE-OWNED ENTERPRISES
STOCK EXCHANGE
STOCK EXCHANGES
STOCK MARKET
SUPERVISORY AGENCY
TRACK RECORD
TRANSACTION
TRANSACTION COSTS
TRANSPARENCY
TRUSTEE
TURNOVER
TURNOVER RATIO
UNIVERSITIES
VOTING
WEAK CORPORATE GOVERNANCE
WITHDRAWAL
WORLD DEVELOPMENT INDICATORS
WORLD MARKETS
spellingShingle ACCOUNTANT
ACCOUNTING
ACCOUNTING STANDARDS
AUDIT COMMITTEES
AUDITS
BALANCE SHEET
BANKING LAW
BANKING SECTOR
BANKS
BOARD MEMBER
BOARD MEMBERS
BOARD MEMBERSHIP
BOARDS OF DIRECTORS
BROKERS
CAPACITY CONSTRAINTS
CAPITAL MARKET
CAPITAL MARKET DEVELOPMENT
CAPITAL MARKETS
CAPITAL STOCK
CENTRAL BANK
CENTRAL DEPOSITORY
CEO
CEOS
CHIEF EXECUTIVE
CHIEF FINANCIAL OFFICER
CIVIL LAW
COMMERCIAL CODE
CONFLICTS OF INTEREST
CONSTITUTION
CONTROLLING SHAREHOLDERS
COOPERATION AGREEMENT
CORPORATE BOND
CORPORATE BOND ISSUES
CORPORATE ENTITIES
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE CODE
CORPORATE GOVERNANCE CODES
CORPORATE GOVERNANCE FRAMEWORKS
CORPORATE GOVERNANCE REFORMS
CORPORATE INFORMATION
CORPORATE PRACTICES
CORPORATIONS
COST OF CAPITAL
CREDIBILITY
CREDITORS
CRITICAL MASS
DEBT SECURITIES
DECISION MAKING
DECISION MAKING PROCESSES
DECREE
DEPOSITS
DISCLOSURE
DIVIDEND
DIVIDEND POLICY
DIVIDENDS
DOMESTIC COMPANIES
DOMESTIC EXCHANGE
DOMESTIC INSTITUTIONAL INVESTORS
ECONOMIC CRISIS
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC INTEGRATION
EMERGING MARKET
EMERGING MARKET COUNTRIES
EMERGING MARKETS
EQUAL TREATMENT
EQUITY ISSUANCE
EQUITY MARKET
EQUITY MARKETS
FIDUCIARY DUTIES
FIDUCIARY RESPONSIBILITIES
FINANCIAL CRISES
FINANCIAL CRISIS
FINANCIAL DISCLOSURES
FINANCIAL INSTITUTIONS
FINANCIAL REQUIREMENTS
FINANCIAL RESOURCES
FINANCIAL SECTOR
FINANCIAL SITUATION
FINANCIAL STATEMENTS
FINANCIAL SYSTEM
FIXED CAPITAL
FOOD PRICES
FUND ASSETS
FUND MANAGERS
GOOD CORPORATE GOVERNANCE
GOVERNANCE ISSUES
GOVERNANCE PRACTICES
GOVERNANCE REGULATION
GOVERNANCE STANDARDS
GOVERNMENT AUTHORITIES
GROSS DOMESTIC PRODUCT
HOLDING
HOLDINGS
HUMAN RESOURCES
IMPROVING GOVERNANCE
INCOME
INCORPORATION
INFORMATION TECHNOLOGY
INSIDER TRADING
INSTITUTIONAL CAPACITY
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INVESTORS
INSURANCE
INSURANCE COMPANIES
INTERNAL AUDIT
INTERNAL CONTROL
INTERNAL CONTROLS
INTERNATIONAL GOVERNANCE STANDARDS
INTERNATIONAL STANDARDS
INVESTMENT CLIMATE
INVESTMENT POLICIES
INVESTOR CONFIDENCE
INVESTOR PROTECTION
ISSUANCES
JOINT STOCK COMPANIES
JOINT STOCK COMPANY
JURISDICTION
JURISDICTIONS
LEGAL ENVIRONMENT
LEGAL FRAMEWORK
LEGAL REFORMS
LIABILITY
LIMITED
MAJORITY SHAREHOLDER
MANAGEMENT OVERSIGHT
MARKET CAP
MARKET CAPITALIZATION
MARKET PARTICIPANTS
MINORITY INVESTORS
MINORITY SHAREHOLDER
MINORITY SHAREHOLDER PROTECTION
MINORITY SHAREHOLDERS
MONETARY FUND
NATIONAL ECONOMY
OWNERSHIP STRUCTURE
PENSION
PENSION FUND
PENSION FUND ASSETS
PENSION FUNDS
PORTFOLIO
PREEMPTIVE RIGHTS
PRIVATE PENSION
PRIVATE SECTOR GROWTH
PRIVATIZATION
PROPERTY RIGHTS
PROPORTIONAL REPRESENTATION
PRUDENTIAL REGULATIONS
PUBLIC DEBT
PUBLIC DEBT SECURITIES
PUBLIC INFORMATION
PUBLIC POLICY
REGIONAL INTEGRATION
REGULATORS
REGULATORY AUTHORITIES
REGULATORY FRAMEWORK
REMITTANCES
REPRESENTATIVES
REPUTATION
RETIREMENT SAVINGS
RISK MANAGEMENT
SECURITIES
SECURITIES LAW
SHAREHOLDER
SHAREHOLDER AGREEMENT
SHAREHOLDER AGREEMENTS
SHAREHOLDER APPROVAL
SHAREHOLDER MEETINGS
SHAREHOLDER PROTECTION
SHAREHOLDER PROTECTIONS
SHAREHOLDER RIGHT
SHAREHOLDER RIGHTS
SHAREHOLDERS
SMALL BUSINESSES
SOCIAL SECURITY
STAKEHOLDERS
STATE-OWNED ENTERPRISES
STOCK EXCHANGE
STOCK EXCHANGES
STOCK MARKET
SUPERVISORY AGENCY
TRACK RECORD
TRANSACTION
TRANSACTION COSTS
TRANSPARENCY
TRUSTEE
TURNOVER
TURNOVER RATIO
UNIVERSITIES
VOTING
WEAK CORPORATE GOVERNANCE
WITHDRAWAL
WORLD DEVELOPMENT INDICATORS
WORLD MARKETS
World Bank
Corporate Governance Country Assessment : El Salvador
geographic_facet Latin America & Caribbean
El Salvador
relation Report on the Observance of Standards and Codes (ROSC);
description This report assesses El Salvador s corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in El Salvador. The OECD Principles focus on private-sector publicly traded companies, both financial and nonfinancial, but are also applicable to other public interest entities, including banks, insurance companies, and state-owned enterprises The equity market in El Salvador is small and has not showed much growth in the past five years. Most observers blame unwieldy approval processes for new share offerings, and the predominance in the economy of small- and medium-sized family-owned companies which do not have an interest in becoming public. Given the limited depth of the market, both regulator (SSF) and stock exchange (BVES) have taken measures towards regional integration. El Salvador today is participating in a regional initiative to develop an integrated Central American capital market with Panama and Costa Rica. Good corporate governance enhances investor trust, helps to protect minority shareholders, and can encourage better decision making and improved relations with employees, creditors, and other stakeholders. It is an important prerequisite for attracting the patient capital needed for sustained long-term economic growth.
format Economic & Sector Work :: Corporate Governance Assessment (ROSC)
author World Bank
author_facet World Bank
author_sort World Bank
title Corporate Governance Country Assessment : El Salvador
title_short Corporate Governance Country Assessment : El Salvador
title_full Corporate Governance Country Assessment : El Salvador
title_fullStr Corporate Governance Country Assessment : El Salvador
title_full_unstemmed Corporate Governance Country Assessment : El Salvador
title_sort corporate governance country assessment : el salvador
publisher Washington, DC
publishDate 2014
url http://documents.worldbank.org/curated/en/2012/06/20225992/el-salvador-report-observance-standards-codes-rosc-corporate-governance-country-assessment
http://hdl.handle.net/10986/20447
_version_ 1764445394466504704
spelling okr-10986-204472021-04-23T14:03:55Z Corporate Governance Country Assessment : El Salvador World Bank ACCOUNTANT ACCOUNTING ACCOUNTING STANDARDS AUDIT COMMITTEES AUDITS BALANCE SHEET BANKING LAW BANKING SECTOR BANKS BOARD MEMBER BOARD MEMBERS BOARD MEMBERSHIP BOARDS OF DIRECTORS BROKERS CAPACITY CONSTRAINTS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL STOCK CENTRAL BANK CENTRAL DEPOSITORY CEO CEOS CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER CIVIL LAW COMMERCIAL CODE CONFLICTS OF INTEREST CONSTITUTION CONTROLLING SHAREHOLDERS COOPERATION AGREEMENT CORPORATE BOND CORPORATE BOND ISSUES CORPORATE ENTITIES CORPORATE GOVERNANCE CORPORATE GOVERNANCE CODE CORPORATE GOVERNANCE CODES CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE PRACTICES CORPORATIONS COST OF CAPITAL CREDIBILITY CREDITORS CRITICAL MASS DEBT SECURITIES DECISION MAKING DECISION MAKING PROCESSES DECREE DEPOSITS DISCLOSURE DIVIDEND DIVIDEND POLICY DIVIDENDS DOMESTIC COMPANIES DOMESTIC EXCHANGE DOMESTIC INSTITUTIONAL INVESTORS ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS EQUAL TREATMENT EQUITY ISSUANCE EQUITY MARKET EQUITY MARKETS FIDUCIARY DUTIES FIDUCIARY RESPONSIBILITIES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DISCLOSURES FINANCIAL INSTITUTIONS FINANCIAL REQUIREMENTS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SITUATION FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED CAPITAL FOOD PRICES FUND ASSETS FUND MANAGERS GOOD CORPORATE GOVERNANCE GOVERNANCE ISSUES GOVERNANCE PRACTICES GOVERNANCE REGULATION GOVERNANCE STANDARDS GOVERNMENT AUTHORITIES GROSS DOMESTIC PRODUCT HOLDING HOLDINGS HUMAN RESOURCES IMPROVING GOVERNANCE INCOME INCORPORATION INFORMATION TECHNOLOGY INSIDER TRADING INSTITUTIONAL CAPACITY INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTERNAL AUDIT INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL GOVERNANCE STANDARDS INTERNATIONAL STANDARDS INVESTMENT CLIMATE INVESTMENT POLICIES INVESTOR CONFIDENCE INVESTOR PROTECTION ISSUANCES JOINT STOCK COMPANIES JOINT STOCK COMPANY JURISDICTION JURISDICTIONS LEGAL ENVIRONMENT LEGAL FRAMEWORK LEGAL REFORMS LIABILITY LIMITED MAJORITY SHAREHOLDER MANAGEMENT OVERSIGHT MARKET CAP MARKET CAPITALIZATION MARKET PARTICIPANTS MINORITY INVESTORS MINORITY SHAREHOLDER MINORITY SHAREHOLDER PROTECTION MINORITY SHAREHOLDERS MONETARY FUND NATIONAL ECONOMY OWNERSHIP STRUCTURE PENSION PENSION FUND PENSION FUND ASSETS PENSION FUNDS PORTFOLIO PREEMPTIVE RIGHTS PRIVATE PENSION PRIVATE SECTOR GROWTH PRIVATIZATION PROPERTY RIGHTS PROPORTIONAL REPRESENTATION PRUDENTIAL REGULATIONS PUBLIC DEBT PUBLIC DEBT SECURITIES PUBLIC INFORMATION PUBLIC POLICY REGIONAL INTEGRATION REGULATORS REGULATORY AUTHORITIES REGULATORY FRAMEWORK REMITTANCES REPRESENTATIVES REPUTATION RETIREMENT SAVINGS RISK MANAGEMENT SECURITIES SECURITIES LAW SHAREHOLDER SHAREHOLDER AGREEMENT SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER MEETINGS SHAREHOLDER PROTECTION SHAREHOLDER PROTECTIONS SHAREHOLDER RIGHT SHAREHOLDER RIGHTS SHAREHOLDERS SMALL BUSINESSES SOCIAL SECURITY STAKEHOLDERS STATE-OWNED ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET SUPERVISORY AGENCY TRACK RECORD TRANSACTION TRANSACTION COSTS TRANSPARENCY TRUSTEE TURNOVER TURNOVER RATIO UNIVERSITIES VOTING WEAK CORPORATE GOVERNANCE WITHDRAWAL WORLD DEVELOPMENT INDICATORS WORLD MARKETS This report assesses El Salvador s corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in El Salvador. The OECD Principles focus on private-sector publicly traded companies, both financial and nonfinancial, but are also applicable to other public interest entities, including banks, insurance companies, and state-owned enterprises The equity market in El Salvador is small and has not showed much growth in the past five years. Most observers blame unwieldy approval processes for new share offerings, and the predominance in the economy of small- and medium-sized family-owned companies which do not have an interest in becoming public. Given the limited depth of the market, both regulator (SSF) and stock exchange (BVES) have taken measures towards regional integration. El Salvador today is participating in a regional initiative to develop an integrated Central American capital market with Panama and Costa Rica. Good corporate governance enhances investor trust, helps to protect minority shareholders, and can encourage better decision making and improved relations with employees, creditors, and other stakeholders. It is an important prerequisite for attracting the patient capital needed for sustained long-term economic growth. 2014-10-16T17:44:19Z 2014-10-16T17:44:19Z 2012-06 http://documents.worldbank.org/curated/en/2012/06/20225992/el-salvador-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/20447 English en_US Report on the Observance of Standards and Codes (ROSC); CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work Latin America & Caribbean El Salvador