Corporate Governance Scorecard 2009 : Baseline Report
During the past decade, the Vietnamese securities market has made large strides and secured a firm position as a channel for mid-term and long-term capital mobilization for national economic development. However, the management and regulations of a...
Main Authors: | , , |
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Format: | Working Paper |
Language: | English en_US |
Published: |
International Finance Corporation, Washington, D.C.
2017
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Subjects: | |
Online Access: | http://documents.worldbank.org/curated/en/530891495093336069/Corporate-governance-scorecard-2009 http://hdl.handle.net/10986/28083 |
Summary: | During the past decade, the Vietnamese
securities market has made large strides and secured a firm
position as a channel for mid-term and long-term capital
mobilization for national economic development. However, the
management and regulations of an emerging securities market
have posed numerous challenges to the national securities
regulator - the State Securities Commission (SSC). In its
role to establish, regulate, and supervise the securities
market applying international corporate governance (CG)
standards and best practices, the SSC has taken the
initiative in obtaining assistance from international
organizations to help establish more transparent and
efficient securities market operations. Therefore, the SSC
and International Finance Corporation (IFC) are partners in
several initiatives to improve CG in Vietnam. The
development of the Vietnam CG scorecard and the associated
scorecard report is part of this wider CG project to assist
the regulator to enhance the application of international CG
standards and practices. This initial survey of CG practices
in Vietnam is the baseline review of CG in Vietnam. It
encompasses a survey of some 100 companies listed on the
Hanoi and the Ho Chi Minh stock exchanges, which together
represent more than 90 percent of the combined market
capitalization of these exchanges. The scorecard report is
expected to: provide a standardized, systematic framework by
which regulators and investors may assess the CG of a
company and the overall level of CG in Vietnam; enable a
company to assess the quality of its CG and to stimulate
companies to enhance their practices; provide a systematic
way to analyze CG across industries to assist improvements
in CG practices; assist regulatory groups to identify
strengths and weaknesses in CG regulations and practices,
leading to further reforms; and be available to support the
raising of awareness and understanding of good CG practices.
The scorecard is a tool that regulators, companies,
investors, and the marketplace can use to focus on CG and it
will provide a common metric and language on CG in Vietnam.
It opens up opportunities for dialogue on CG and allows for
Vietnamese institutions to take appropriate steps to address
the CG issues highlighted by the findings of the report. |
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