Corporate Governance Country Assessment : Azerbaijan
This report assesses Azerbaijan'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 corpo...
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| Format: | Corporate Governance Assessment (ROSC) |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2009/09/20220672/azerbaijan-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/20451 |
| Summary: | This report assesses Azerbaijan'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
Azerbaijan. It is an update of the 2005 Corporate Governance
ROSC. In recent years, Azerbaijan's economy has
experienced tremendous economic growth and the substantial
institutional and legal change of earlier years has
continued. New laws and regulations have improved legal
protection for investors and the broader business
environment. These include 2007 laws on insurance activity
and internal audit, and 2008 amendments to the civil code
and regulations that introduce board member duties and
regulate related party transaction. Azerbaijan's Doing
Business rankings have improved substantially since 2005.
Enforcement and implementation of corporate governance has
also begun to improve, especially in banks and companies
with foreign investment. Foreign donors, including the
International Finance Corporation (IFC) Azerbaijan Corporate
Governance Project, have been helpful in this area. |
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