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...

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Main Author:	World Bank
Format:	Corporate Governance Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	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
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

Corporate Governance Country Assessment : El Salvador

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