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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| Format: | Corporate Governance Assessment (ROSC) |
| Language: | English en_US |
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Washington, DC
2012
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| 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 |
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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 |
| _version_ |
1764405443692593152 |