Corporate Governance Country Assessment : Brazil

Brazil today is at an advanced stage in the corporate governance debate, and demand for voting shares, transparency, tag along rights, and other corporate governance rights has increased significantly. As a result, share offerings take place on the special listing segments rather than on the main bo...

Full description

Bibliographic Details
Main Author:	World Bank
Format:	Corporate Governance Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCOUNTING ACCOUNTING STANDARDS ARBITRATION ASSET MANAGERS AUCTION AUCTION PRICE AUDIT COMMITTEE AUDIT COMMITTEES AUDITS BALANCE SHEET BANK REGULATION BANK SECRECY BANKING SECTOR BANKRUPTCY BENEFICIARIES BENEFICIARY BID BONDS BOOK VALUE BORROWER BROKER BROKER-DEALER BUSINESS CASE BUSINESS OPPORTUNITIES BUY-BACKS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL STRUCTURES CASH FLOW CENTRAL BANK CENTRAL DEPOSITORY CIVIL CODE CIVIL LAW CLASS ACTION COMMODITIES COMMON LAW COMPANY INFORMATION COMPANY LAW CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSUMER PROTECTION CONTRACTUAL RELATIONSHIP CORPORATE CITIZENSHIP CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE FRAMEWORKS CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE INFORMATION CORPORATE LAW CORPORATE OWNERSHIP COST OF CAPITAL CREDIBILITY CREDITOR CREDITOR RIGHTS CUSTODIAN BANK DEBENTURES DEBT DEEDS DEPOSITARY RECEIPTS DERIVATIVE DEVELOPMENT BANK DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DISTRIBUTION OF DIVIDENDS DIVIDEND DIVIDENDS DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE EFFICIENT MARKETS EMERGING MARKET EMERGING MARKET COUNTRIES ENFORCEMENT POWERS EQUITIES EQUITY HOLDINGS EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY ISSUES EQUITY MARKET EQUITY MARKETS EQUITY VALUE EXPROPRIATION EXPROPRIATION OF MINORITY SHAREHOLDERS FAIR VALUE FINANCIAL COMPANY FINANCIAL CRISES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN INVESTORS FOREIGN OWNERSHIP FULL DISCLOSURE FUND ASSETS FUTURES GOVERNANCE INDEX GOVERNANCE ISSUE GOVERNANCE PRACTICES GOVERNMENT OWNERSHIP HOSTILE TAKEOVERS HUMAN RIGHTS INCOME INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE
Online Access:	http://documents.worldbank.org/curated/en/2005/05/10114810/brazil-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8273

Description
Summary:	Brazil today is at an advanced stage in the corporate governance debate, and demand for voting shares, transparency, tag along rights, and other corporate governance rights has increased significantly. As a result, share offerings take place on the special listing segments rather than on the main board. Enforcement has improved substantially, as the securities regulator, (CVM), enforces laws and regulations in a consistent and predictable fashion. The private sector took the initiative to provide incentives that will bridge the gap between the existing legal framework and best practice for issuers who want to distinguish themselves in the competition for capital at home and abroad. The stock exchange (BOVESPA) introduced special listing segments requiring progressively stricter corporate governance standards. These have given investors a benchmark against which to measure corporate governance. CVM, BOVESPA, the Brazilian Institute of Corporate Governance (IBGC) and firms listed on the Novo Mercado have been major champions and drivers of change. The challenge now is to 'mainstream' corporate governance reform beyond this limited group of insiders and make it an integral part of the investment climate agenda.

Corporate Governance Country Assessment : Brazil

Similar Items