Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment

This report assesses Macedonia's corporate governance policy framework, and enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate govern...

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Main Author: World Bank
Format: Corporate Governance Assessment (ROSC)
Language:English
en_US
Published: Washington, DC 2012
Subjects:
Online Access:http://documents.worldbank.org/curated/en/2005/06/6569677/report-observance-standards-codes-rosc-corporate-governance-country-assessment-macedonia
http://hdl.handle.net/10986/8454
id okr-10986-8454
recordtype oai_dc
spelling okr-10986-84542021-04-23T14:02:39Z Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment World Bank ACCESS TO INFORMATION ACCOUNTABILITY AUTHORITY BANKING SECTOR CAPITAL MARKETS CASH FLOW CENTRAL BANK CHARTER COMMERCIAL BANKS COMPANY CONFLICT OF INTEREST CONFLICTS OF INTERESTS CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK CORPORATE GOVERNANCE REFORM COST OF CAPITAL COURT SYSTEM DISCLOSURE DISCLOSURE OF INFORMATION DOMESTIC INSTITUTIONAL INVESTORS ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE ENFORCEMENT POWERS EQUITY MARKETS ETHICAL STANDARDS FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL STATEMENTS FINANCIAL VULNERABILITY FIRMS FOREIGN INVESTMENT FOREIGN INVESTORS GOVERNANCE INSTITUTIONS GOVERNANCE REFORM GOVERNANCE REFORMS GOVERNMENT AGENCY GOVERNMENT AUTHORITIES INSTITUTION BUILDING INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INVESTMENT FUNDS INVESTOR PROTECTION JOINT STOCK COMPANIES JOINT STOCK COMPANY JOINT-STOCK COMPANY JUDICIAL ENFORCEMENT LEGAL ENTITIES LEGAL FRAMEWORK LEGAL OBSTACLES LEGISLATION LEGISLATIVE CHANGES LISTED COMPANIES MARKET CAPITALIZATION MEDIA SCRUTINY MERGERS MINORITY SHAREHOLDERS OWNERSHIP RIGHTS PARLIAMENT POLITICAL INTERFERENCE PRIVATIZATION POLICY PROPERTY RIGHTS PUBLIC INFORMATION PUBLIC INTEREST PUBLIC POLICY REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REQUIREMENTS REVIEW OF GOVERNANCE RULE OF LAW SHAREHOLDERS STATE-OWNED ENTERPRISES STOCK EXCHANGE TRANSPARENCY UNLISTED COMPANIES VALUE OF ASSETS VOTING WEAK CORPORATE GOVERNANCE This report assesses Macedonia's corporate governance policy framework, and enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Macedonia. The report identifies a number of key recommendations as follows. The disclosure framework should be overhauled, as part of the on-going revision of the Securities Law. Shareholders should be required to disclose all direct and indirect ownership. The law should increase authority of the Macedonian Securities and Exchange Commission (MSEC), and especially its powers to impose sanctions, while MSEC should develop a strategy to use its new authority to improve corporate governance and shareholder rights. The Macedonian Stock Exchange (MSE) should complete the process of drafting a corporate governance code, should revise its listing rules in line with the Code and the new Securities Law, and consider the development of a "corporate governance tier". The exchange should fully implement a system of electronic information dissemination. 2012-06-19T18:34:37Z 2012-06-19T18:34:37Z 2005-06 http://documents.worldbank.org/curated/en/2005/06/6569677/report-observance-standards-codes-rosc-corporate-governance-country-assessment-macedonia http://hdl.handle.net/10986/8454 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 Europe and Central Asia Europe Eastern Europe Macedonia, former Yugoslav Republic of North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
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 ACCESS TO INFORMATION
ACCOUNTABILITY
AUTHORITY
BANKING SECTOR
CAPITAL MARKETS
CASH FLOW
CENTRAL BANK
CHARTER
COMMERCIAL BANKS
COMPANY
CONFLICT OF INTEREST
CONFLICTS OF INTERESTS
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE FRAMEWORK
CORPORATE GOVERNANCE REFORM
COST OF CAPITAL
COURT SYSTEM
DISCLOSURE
DISCLOSURE OF INFORMATION
DOMESTIC INSTITUTIONAL INVESTORS
ECONOMIC DEVELOPMENT
ECONOMIC PERFORMANCE
ENFORCEMENT POWERS
EQUITY MARKETS
ETHICAL STANDARDS
FINANCIAL CRISES
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR
FINANCIAL STATEMENTS
FINANCIAL VULNERABILITY
FIRMS
FOREIGN INVESTMENT
FOREIGN INVESTORS
GOVERNANCE INSTITUTIONS
GOVERNANCE REFORM
GOVERNANCE REFORMS
GOVERNMENT AGENCY
GOVERNMENT AUTHORITIES
INSTITUTION BUILDING
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INVESTORS
INVESTMENT FUNDS
INVESTOR PROTECTION
JOINT STOCK COMPANIES
JOINT STOCK COMPANY
JOINT-STOCK COMPANY
JUDICIAL ENFORCEMENT
LEGAL ENTITIES
LEGAL FRAMEWORK
LEGAL OBSTACLES
LEGISLATION
LEGISLATIVE CHANGES
LISTED COMPANIES
MARKET CAPITALIZATION
MEDIA SCRUTINY
MERGERS
MINORITY SHAREHOLDERS
OWNERSHIP RIGHTS
PARLIAMENT
POLITICAL INTERFERENCE
PRIVATIZATION POLICY
PROPERTY RIGHTS
PUBLIC INFORMATION
PUBLIC INTEREST
PUBLIC POLICY
REGULATORY AUTHORITY
REGULATORY FRAMEWORK
REGULATORY REQUIREMENTS
REVIEW OF GOVERNANCE
RULE OF LAW
SHAREHOLDERS
STATE-OWNED ENTERPRISES
STOCK EXCHANGE
TRANSPARENCY
UNLISTED COMPANIES
VALUE OF ASSETS
VOTING
WEAK CORPORATE GOVERNANCE
spellingShingle ACCESS TO INFORMATION
ACCOUNTABILITY
AUTHORITY
BANKING SECTOR
CAPITAL MARKETS
CASH FLOW
CENTRAL BANK
CHARTER
COMMERCIAL BANKS
COMPANY
CONFLICT OF INTEREST
CONFLICTS OF INTERESTS
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE FRAMEWORK
CORPORATE GOVERNANCE REFORM
COST OF CAPITAL
COURT SYSTEM
DISCLOSURE
DISCLOSURE OF INFORMATION
DOMESTIC INSTITUTIONAL INVESTORS
ECONOMIC DEVELOPMENT
ECONOMIC PERFORMANCE
ENFORCEMENT POWERS
EQUITY MARKETS
ETHICAL STANDARDS
FINANCIAL CRISES
FINANCIAL INSTITUTIONS
FINANCIAL SECTOR
FINANCIAL STATEMENTS
FINANCIAL VULNERABILITY
FIRMS
FOREIGN INVESTMENT
FOREIGN INVESTORS
GOVERNANCE INSTITUTIONS
GOVERNANCE REFORM
GOVERNANCE REFORMS
GOVERNMENT AGENCY
GOVERNMENT AUTHORITIES
INSTITUTION BUILDING
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL INVESTORS
INVESTMENT FUNDS
INVESTOR PROTECTION
JOINT STOCK COMPANIES
JOINT STOCK COMPANY
JOINT-STOCK COMPANY
JUDICIAL ENFORCEMENT
LEGAL ENTITIES
LEGAL FRAMEWORK
LEGAL OBSTACLES
LEGISLATION
LEGISLATIVE CHANGES
LISTED COMPANIES
MARKET CAPITALIZATION
MEDIA SCRUTINY
MERGERS
MINORITY SHAREHOLDERS
OWNERSHIP RIGHTS
PARLIAMENT
POLITICAL INTERFERENCE
PRIVATIZATION POLICY
PROPERTY RIGHTS
PUBLIC INFORMATION
PUBLIC INTEREST
PUBLIC POLICY
REGULATORY AUTHORITY
REGULATORY FRAMEWORK
REGULATORY REQUIREMENTS
REVIEW OF GOVERNANCE
RULE OF LAW
SHAREHOLDERS
STATE-OWNED ENTERPRISES
STOCK EXCHANGE
TRANSPARENCY
UNLISTED COMPANIES
VALUE OF ASSETS
VOTING
WEAK CORPORATE GOVERNANCE
World Bank
Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
geographic_facet Europe and Central Asia
Europe
Eastern Europe
Macedonia, former Yugoslav Republic of
North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
description This report assesses Macedonia's corporate governance policy framework, and enforcement and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Macedonia. The report identifies a number of key recommendations as follows. The disclosure framework should be overhauled, as part of the on-going revision of the Securities Law. Shareholders should be required to disclose all direct and indirect ownership. The law should increase authority of the Macedonian Securities and Exchange Commission (MSEC), and especially its powers to impose sanctions, while MSEC should develop a strategy to use its new authority to improve corporate governance and shareholder rights. The Macedonian Stock Exchange (MSE) should complete the process of drafting a corporate governance code, should revise its listing rules in line with the Code and the new Securities Law, and consider the development of a "corporate governance tier". The exchange should fully implement a system of electronic information dissemination.
format Economic & Sector Work :: Corporate Governance Assessment (ROSC)
author World Bank
author_facet World Bank
author_sort World Bank
title Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_short Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_full Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_fullStr Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_full_unstemmed Former Yugoslav Republic of Macedonia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
title_sort former yugoslav republic of macedonia : report on the observance of standards and codes (rosc), corporate governance country assessment
publisher Washington, DC
publishDate 2012
url http://documents.worldbank.org/curated/en/2005/06/6569677/report-observance-standards-codes-rosc-corporate-governance-country-assessment-macedonia
http://hdl.handle.net/10986/8454
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