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...

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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

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recordtype	oai_dc
spelling	okr-10986-82732021-04-23T14:02:38Z Corporate Governance Country Assessment : Brazil World Bank 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 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. 2012-06-18T15:54:11Z 2012-06-18T15:54:11Z 2005-05 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 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work Latin America & Caribbean Brazil
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	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
spellingShingle	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 World Bank Corporate Governance Country Assessment : Brazil
geographic_facet	Latin America & Caribbean Brazil
description	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.
format	Economic & Sector Work :: Corporate Governance Assessment (ROSC)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Corporate Governance Country Assessment : Brazil
title_short	Corporate Governance Country Assessment : Brazil
title_full	Corporate Governance Country Assessment : Brazil
title_fullStr	Corporate Governance Country Assessment : Brazil
title_full_unstemmed	Corporate Governance Country Assessment : Brazil
title_sort	corporate governance country assessment : brazil
publisher	Washington, DC
publishDate	2012
url	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
_version_	1764404787177062400

Corporate Governance Country Assessment : Brazil

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