1. Corporate Governance Success Stories
- Author
-
International Finance Corporation
- Subjects
INVESTMENT ,MANAGEMENT REPORTS ,INFRASTRUCTURE ,OPERATING EXPENSES ,OPERATIONAL RISK ,SHAREHOLDERS ,CUSTOMER BASE ,FINANCE CORPORATION ,SHAREHOLDER RIGHTS ,PROJECTS ,INFLATION ,EXTERNAL FINANCING ,EMPLOYMENT ,TECHNICAL ASSISTANCE ,CRITERIA ,COST OF FUNDS ,LENDING ,INVESTMENTS ,PRODUCTIVITY ,AFFILIATED COMPANIES ,FINANCIAL CRISIS ,FOOD PRICES ,GOVERNMENTS ,SHAREHOLDER ,OPERATIONAL EFFICIENCY ,INVESTORS ,SHARES ,FIRM VALUATION ,BANK ,INTERNAL CONTROL ,LOANS ,AUDITORS ,FINANCIAL SYSTEMS ,LABOR COSTS ,MINORITY SHAREHOLDER PROTECTION ,ACCOUNTING STANDARDS ,RISK MANAGEMENT ,SCANDALS ,INTERESTS ,TRANSPARENCY ,STRATEGIES ,MISMANAGEMENT ,COLLECTIONS ,FOREIGN DIRECT INVESTMENT ,BORROWERS ,DEPOSITS ,INDUSTRY ,ISLAMIC BANKING ,HUMAN RESOURCE MANAGEMENT ,MARKETS ,INFORMATION SYSTEMS ,CORPORATE GOVERNANCE SURVEY ,GOVERNANCE PRACTICES ,FINANCE ,INVESTMENT DECISION ,INTERNATIONAL FINANCE ,PRICES ,CORPORATE GOVERNANCE ,FISCAL YEAR ,TREASURY OPERATIONS ,CORPORATE DISCLOSURE ,REPUTATION ,RETIREMENT ,BANKING ,INVESTOR RELATIONS ,ENTERPRISES ,STOCK EXCHANGE ,NEW PRODUCTS ,ASSET MANAGEMENT ,BALANCE SHEET ,SHAREHOLDER RELATIONS ,BIS ,INTERNAL CONTROLS ,PRIVATE EQUITY ,LIQUIDITY ,SERVICES ,PRICING ,INTEREST RATES ,MINORITY SHAREHOLDER ,AFFILIATES ,PRIVATE CAPITAL ,DEBT ,CREDIT RISK ,COST OF CAPITAL ,BANKING SECTOR ,FINANCIAL COMPANIES ,FINANCIAL SERVICES ,PROPERTY ,COMMERCIAL LOANS ,OWNERSHIP STRUCTURE ,PROFITABILITY ,FINANCIAL MANAGEMENT ,FIRM PERFORMANCE ,ECONOMIC DEVELOPMENT ,CENTRAL BANK ,MANAGEMENT INFORMATION SYSTEMS ,DEVELOPING ECONOMIES ,KEY PERFORMANCE INDICATORS ,AUDITS ,FOREIGN EXCHANGE ,CUSTOMERS ,PORTFOLIO ,CAPITAL ,ACCOUNTING ,COMMERCIAL BANK ,CONSOLIDATION ,SHARE OWNERSHIP ,VALUE ,RISK ,COMMERCIAL LENDING ,SHAREHOLDER PROTECTION ,MARKET PARTICIPANTS ,BUSINESS CASE ,GOVERNANCE ,NET PROFIT ,FINANCIAL INSTITUTIONS ,HUMAN CAPITAL ,NEW PRODUCT ,INSURANCE ,SUSTAINABLE ECONOMIC GROWTH ,REVENUE ,INTERNATIONAL BANKING ,EXTERNAL AUDITORS ,PRICE ,EQUITY ,BANKS ,GRANTS ,LAND ,FINANCIAL INSTITUTION ,GOOD GOVERNANCE ,MARKET PRICE ,DEBT FINANCING ,CREDIT ,DEVELOPING COUNTRIES ,NONPERFORMING LOANS ,FUTURE ,MICROFINANCE ,PRIVATE SECTOR DEVELOPMENT ,LABOR ,MARKET RISK ,REAL ESTATE ,CUSTOMER ,SUBSIDIARY ,REGULATORS ,INVESTOR ,INVESTMENT BANKING ,CAPITALIZATION ,RETURN ON EQUITY ,INTEREST ,NEW MARKETS ,JOB CREATION ,TRANSPORT ,LAWS ,CAPITAL BASE ,EMPLOYMENT POLICY ,LIQUIDITY RISK ,FINANCIAL STATEMENT ,SUBSIDIARIES ,SHARE ,NET LOSS ,AFFILIATE ,POTENTIAL INVESTORS ,AUDIT ,ACCOUNTABILITY ,ISLAMIC DEVELOPMENT BANK - Abstract
This report summarizes the experiences of 19 companies from across the region. Each of the case studies highlights the key corporate governance changes made and the positive impacts that resulted, as reported by the company. The companies represent various countries, sectors, types, and sizes. All of the companies featured are former IFC Advisory Services clients. Some are IFC Investment clients as well. IFC conducted an in-depth corporate governance assessment for each of these companies using IFC’s Corporate Governance Methodology. The assessments resulted in specific recommendations on ways to improve each company’s governance framework and identified implementation plans. The assessments were conducted at various points over the past few years. The time taken to implement changes and realize benefits varied. However, all companies reported that governance changes are continuous and the corresponding benefits manifest themselves in different forms over time. This report provides examples of companies in various stages of change – from recent changes (e.g., Medgulf) to ongoing, longer-term changes (e.g., Bank Audi). This report also includes testimony from three MENA private equity firms (all IFC investment clients). Collectively, these firms have worked with 72 investee companies (past and present funds). Selected based on their association with IFC and their willingness to share their insight and experiences, these firms offer a valuable window into the importance of corporate governance from an investor’s perspective. The material in this report is based on feedback gathered through individual interviews with each organization featured, resulting in well-considered responses. The achievements highlighted are all the more notable given that the interviews and information gathering process took place in in late 2009 (first edition) and 2013 (for current edition), when the region was still under the stress of the crisis.
- Published
- 2015