Corporate Governance Success Stories
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...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Cairo
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/06/26504180/corporate-governance-success-stories http://hdl.handle.net/10986/24790 |
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okr-10986-24790 |
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| recordtype |
oai_dc |
| 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 |
EXTERNAL AUDITORS EMPLOYMENT FINANCIAL SERVICES OPERATIONAL RISK ACCOUNTING DEPOSITS CUSTOMER FINANCIAL COMPANIES OPERATIONAL EFFICIENCY BUSINESS CASE RETIREMENT FINANCIAL MANAGEMENT SHAREHOLDER RIGHTS RETURN ON EQUITY INTEREST LAWS AFFILIATED COMPANIES INDUSTRY CAPITAL BASE STRATEGIES LIQUIDITY GOOD GOVERNANCE SERVICES DEVELOPING COUNTRIES DEVELOPING ECONOMIES SUSTAINABLE ECONOMIC GROWTH PORTFOLIO LIQUIDITY RISK HUMAN RESOURCE MANAGEMENT SHAREHOLDER PROTECTION NEW PRODUCTS FINANCIAL STATEMENT PRICING CORPORATE DISCLOSURE BIS PROJECTS BORROWERS PRICE ASSET MANAGEMENT MANAGEMENT REPORTS INFORMATION SYSTEMS INFLATION CORPORATE GOVERNANCE SURVEY AUDITS FIRM VALUATION MARKET PARTICIPANTS CENTRAL BANK NET PROFIT INTERNATIONAL FINANCE COST OF FUNDS TECHNICAL ASSISTANCE LABOR COSTS FINANCIAL INSTITUTION COMMERCIAL BANK TRANSPORT NEW PRODUCT COLLECTIONS PRODUCTIVITY INTEREST RATES CRITERIA FINANCIAL INSTITUTIONS MARKETS DEBT OPERATING EXPENSES MISMANAGEMENT PRIVATE SECTOR DEVELOPMENT LOANS LABOR ENTERPRISES PRIVATE CAPITAL PRIVATE EQUITY REAL ESTATE FINANCE GRANTS MARKET PRICE INFRASTRUCTURE BANKING SECTOR BANKS ISLAMIC DEVELOPMENT BANK MINORITY SHAREHOLDER PROTECTION DEBT FINANCING POTENTIAL INVESTORS EQUITY INVESTORS HUMAN CAPITAL ACCOUNTABILITY CAPITAL INTERNATIONAL BANKING OWNERSHIP STRUCTURE AUDITORS TRANSPARENCY SCANDALS CUSTOMER BASE SHARE OWNERSHIP FINANCIAL CRISIS FUTURE SUBSIDIARIES REPUTATION VALUE BANK FOREIGN DIRECT INVESTMENT CREDIT MANAGEMENT INFORMATION SYSTEMS ISLAMIC BANKING CAPITALIZATION GOVERNANCE PRACTICES INTERNAL CONTROLS PROPERTY FIRM PERFORMANCE JOB CREATION FISCAL YEAR MINORITY SHAREHOLDER COMMERCIAL LOANS AFFILIATES SHARES BALANCE SHEET FOREIGN EXCHANGE MARKET RISK NEW MARKETS SUBSIDIARY PROFITABILITY CREDIT RISK GOVERNANCE SHAREHOLDERS INSURANCE MICROFINANCE ECONOMIC DEVELOPMENT INTERESTS LAND INVESTOR ACCOUNTING STANDARDS STOCK EXCHANGE INVESTMENT RISK INVESTMENT BANKING SHARE AFFILIATE FINANCE CORPORATION INTERNAL CONTROL BANKING NET LOSS INVESTOR RELATIONS REGULATORS REVENUE COMMERCIAL LENDING INVESTMENTS RISK MANAGEMENT LENDING SHAREHOLDER EXTERNAL FINANCING TREASURY OPERATIONS AUDIT CUSTOMERS FOOD PRICES KEY PERFORMANCE INDICATORS FINANCIAL SYSTEMS GOVERNMENTS SHAREHOLDER RELATIONS EMPLOYMENT POLICY PRICES COST OF CAPITAL NONPERFORMING LOANS CONSOLIDATION CORPORATE GOVERNANCE INVESTMENT DECISION |
| spellingShingle |
EXTERNAL AUDITORS EMPLOYMENT FINANCIAL SERVICES OPERATIONAL RISK ACCOUNTING DEPOSITS CUSTOMER FINANCIAL COMPANIES OPERATIONAL EFFICIENCY BUSINESS CASE RETIREMENT FINANCIAL MANAGEMENT SHAREHOLDER RIGHTS RETURN ON EQUITY INTEREST LAWS AFFILIATED COMPANIES INDUSTRY CAPITAL BASE STRATEGIES LIQUIDITY GOOD GOVERNANCE SERVICES DEVELOPING COUNTRIES DEVELOPING ECONOMIES SUSTAINABLE ECONOMIC GROWTH PORTFOLIO LIQUIDITY RISK HUMAN RESOURCE MANAGEMENT SHAREHOLDER PROTECTION NEW PRODUCTS FINANCIAL STATEMENT PRICING CORPORATE DISCLOSURE BIS PROJECTS BORROWERS PRICE ASSET MANAGEMENT MANAGEMENT REPORTS INFORMATION SYSTEMS INFLATION CORPORATE GOVERNANCE SURVEY AUDITS FIRM VALUATION MARKET PARTICIPANTS CENTRAL BANK NET PROFIT INTERNATIONAL FINANCE COST OF FUNDS TECHNICAL ASSISTANCE LABOR COSTS FINANCIAL INSTITUTION COMMERCIAL BANK TRANSPORT NEW PRODUCT COLLECTIONS PRODUCTIVITY INTEREST RATES CRITERIA FINANCIAL INSTITUTIONS MARKETS DEBT OPERATING EXPENSES MISMANAGEMENT PRIVATE SECTOR DEVELOPMENT LOANS LABOR ENTERPRISES PRIVATE CAPITAL PRIVATE EQUITY REAL ESTATE FINANCE GRANTS MARKET PRICE INFRASTRUCTURE BANKING SECTOR BANKS ISLAMIC DEVELOPMENT BANK MINORITY SHAREHOLDER PROTECTION DEBT FINANCING POTENTIAL INVESTORS EQUITY INVESTORS HUMAN CAPITAL ACCOUNTABILITY CAPITAL INTERNATIONAL BANKING OWNERSHIP STRUCTURE AUDITORS TRANSPARENCY SCANDALS CUSTOMER BASE SHARE OWNERSHIP FINANCIAL CRISIS FUTURE SUBSIDIARIES REPUTATION VALUE BANK FOREIGN DIRECT INVESTMENT CREDIT MANAGEMENT INFORMATION SYSTEMS ISLAMIC BANKING CAPITALIZATION GOVERNANCE PRACTICES INTERNAL CONTROLS PROPERTY FIRM PERFORMANCE JOB CREATION FISCAL YEAR MINORITY SHAREHOLDER COMMERCIAL LOANS AFFILIATES SHARES BALANCE SHEET FOREIGN EXCHANGE MARKET RISK NEW MARKETS SUBSIDIARY PROFITABILITY CREDIT RISK GOVERNANCE SHAREHOLDERS INSURANCE MICROFINANCE ECONOMIC DEVELOPMENT INTERESTS LAND INVESTOR ACCOUNTING STANDARDS STOCK EXCHANGE INVESTMENT RISK INVESTMENT BANKING SHARE AFFILIATE FINANCE CORPORATION INTERNAL CONTROL BANKING NET LOSS INVESTOR RELATIONS REGULATORS REVENUE COMMERCIAL LENDING INVESTMENTS RISK MANAGEMENT LENDING SHAREHOLDER EXTERNAL FINANCING TREASURY OPERATIONS AUDIT CUSTOMERS FOOD PRICES KEY PERFORMANCE INDICATORS FINANCIAL SYSTEMS GOVERNMENTS SHAREHOLDER RELATIONS EMPLOYMENT POLICY PRICES COST OF CAPITAL NONPERFORMING LOANS CONSOLIDATION CORPORATE GOVERNANCE INVESTMENT DECISION International Finance Corporation Corporate Governance Success Stories |
| geographic_facet |
Middle East and North Africa Middle East North Africa |
| description |
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. |
| format |
Report |
| author |
International Finance Corporation |
| author_facet |
International Finance Corporation |
| author_sort |
International Finance Corporation |
| title |
Corporate Governance Success Stories |
| title_short |
Corporate Governance Success Stories |
| title_full |
Corporate Governance Success Stories |
| title_fullStr |
Corporate Governance Success Stories |
| title_full_unstemmed |
Corporate Governance Success Stories |
| title_sort |
corporate governance success stories |
| publisher |
World Bank, Cairo |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/06/26504180/corporate-governance-success-stories http://hdl.handle.net/10986/24790 |
| _version_ |
1764457506939076608 |
| spelling |
okr-10986-247902021-04-23T14:04:23Z Corporate Governance Success Stories International Finance Corporation EXTERNAL AUDITORS EMPLOYMENT FINANCIAL SERVICES OPERATIONAL RISK ACCOUNTING DEPOSITS CUSTOMER FINANCIAL COMPANIES OPERATIONAL EFFICIENCY BUSINESS CASE RETIREMENT FINANCIAL MANAGEMENT SHAREHOLDER RIGHTS RETURN ON EQUITY INTEREST LAWS AFFILIATED COMPANIES INDUSTRY CAPITAL BASE STRATEGIES LIQUIDITY GOOD GOVERNANCE SERVICES DEVELOPING COUNTRIES DEVELOPING ECONOMIES SUSTAINABLE ECONOMIC GROWTH PORTFOLIO LIQUIDITY RISK HUMAN RESOURCE MANAGEMENT SHAREHOLDER PROTECTION NEW PRODUCTS FINANCIAL STATEMENT PRICING CORPORATE DISCLOSURE BIS PROJECTS BORROWERS PRICE ASSET MANAGEMENT MANAGEMENT REPORTS INFORMATION SYSTEMS INFLATION CORPORATE GOVERNANCE SURVEY AUDITS FIRM VALUATION MARKET PARTICIPANTS CENTRAL BANK NET PROFIT INTERNATIONAL FINANCE COST OF FUNDS TECHNICAL ASSISTANCE LABOR COSTS FINANCIAL INSTITUTION COMMERCIAL BANK TRANSPORT NEW PRODUCT COLLECTIONS PRODUCTIVITY INTEREST RATES CRITERIA FINANCIAL INSTITUTIONS MARKETS DEBT OPERATING EXPENSES MISMANAGEMENT PRIVATE SECTOR DEVELOPMENT LOANS LABOR ENTERPRISES PRIVATE CAPITAL PRIVATE EQUITY REAL ESTATE FINANCE GRANTS MARKET PRICE INFRASTRUCTURE BANKING SECTOR BANKS ISLAMIC DEVELOPMENT BANK MINORITY SHAREHOLDER PROTECTION DEBT FINANCING POTENTIAL INVESTORS EQUITY INVESTORS HUMAN CAPITAL ACCOUNTABILITY CAPITAL INTERNATIONAL BANKING OWNERSHIP STRUCTURE AUDITORS TRANSPARENCY SCANDALS CUSTOMER BASE SHARE OWNERSHIP FINANCIAL CRISIS FUTURE SUBSIDIARIES REPUTATION VALUE BANK FOREIGN DIRECT INVESTMENT CREDIT MANAGEMENT INFORMATION SYSTEMS ISLAMIC BANKING CAPITALIZATION GOVERNANCE PRACTICES INTERNAL CONTROLS PROPERTY FIRM PERFORMANCE JOB CREATION FISCAL YEAR MINORITY SHAREHOLDER COMMERCIAL LOANS AFFILIATES SHARES BALANCE SHEET FOREIGN EXCHANGE MARKET RISK NEW MARKETS SUBSIDIARY PROFITABILITY CREDIT RISK GOVERNANCE SHAREHOLDERS INSURANCE MICROFINANCE ECONOMIC DEVELOPMENT INTERESTS LAND INVESTOR ACCOUNTING STANDARDS STOCK EXCHANGE INVESTMENT RISK INVESTMENT BANKING SHARE AFFILIATE FINANCE CORPORATION INTERNAL CONTROL BANKING NET LOSS INVESTOR RELATIONS REGULATORS REVENUE COMMERCIAL LENDING INVESTMENTS RISK MANAGEMENT LENDING SHAREHOLDER EXTERNAL FINANCING TREASURY OPERATIONS AUDIT CUSTOMERS FOOD PRICES KEY PERFORMANCE INDICATORS FINANCIAL SYSTEMS GOVERNMENTS SHAREHOLDER RELATIONS EMPLOYMENT POLICY PRICES COST OF CAPITAL NONPERFORMING LOANS CONSOLIDATION CORPORATE GOVERNANCE INVESTMENT DECISION 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. 2016-08-03T22:00:20Z 2016-08-03T22:00:20Z 2015-06 Report http://documents.worldbank.org/curated/en/2016/06/26504180/corporate-governance-success-stories http://hdl.handle.net/10986/24790 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank World Bank, Cairo Publications & Research Publications & Research :: Working Paper Middle East and North Africa Middle East North Africa |