Overview of Corporate Governance Issues for Co-operatives
Good governance is now accepted as vital to achieving the Millennium Development Goals and as a pre-condition for sustainable economic growth. Ensuring better governance of corporations, financial institutions and markets is increasingly recognised...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
International Finance Corporation, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/909421487073205816/Overview-of-corporate-governance-issues-for-co-operatives http://hdl.handle.net/10986/26128 |
| Summary: | Good governance is now accepted as vital
to achieving the Millennium Development Goals and as a
pre-condition for sustainable economic growth. Ensuring
better governance of corporations, financial institutions
and markets is increasingly recognised for developing
countries despite the limited number of firms there with
widely traded shares (Oman and Blume 2005). For developing
countries, significant benefits can be linked to higher
corporate governance standards in the private sector. These
include better access to external finance, lower costs of
capital and better firm performance (Claessens 2003). The
corporate governance agenda has also been broadened by the
recognition of the reach of corporate models characterised
by different forms and structures to the Anglo-American
model of an investor owned firm. However until now little
attention has been paid to the governance needs of other
institutional forms of business such as co-operatives
despite their considerable presence in many developing
countries. The co-operative sector as a whole remains poorly
understood and its specific governance challenges remain as
yet largely unexplored. This aim of this paper is to begin
to remedy this absence. Taking as a starting point the
distinct nature of co-operatives, relevant trends and issues
within corporate governance are explored within the
framework of the co-operative sector. |
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