Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises
This Technical Note assesses the corporate governance of state-owned enterprises (SOEs) in Azerbaijan with a view to supporting the government’s efforts to bolster economic development. Mutually reinforcing recommendations are closely linked and ai...
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/710781532553488335/Republic-of-Azerbaijan-Corporate-Governance-and-Ownership-of-State-Owned-Enterprises http://hdl.handle.net/10986/30207 |
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okr-10986-302072021-05-25T09:16:43Z Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises World Bank STATE-OWNED ENTERPRISES CORPORATE GOVERNANCE INSTITUTIONAL PARTNERSHIPS CORPORATE SOCIAL RESPONSIBILITY BOARD OF DIRECTORS ACCOUNTABILITY PERFORMANCE APPRAISALS FINANCIAL REPORTING AUDITING FINANCIAL STATEMENTS TRANSPARENCY This Technical Note assesses the corporate governance of state-owned enterprises (SOEs) in Azerbaijan with a view to supporting the government’s efforts to bolster economic development. Mutually reinforcing recommendations are closely linked and aim to increase accountability across the whole ownership structure of SOEs, from their ultimate owners, the citizens, to their employees. The Note outlines international good practice, summarizes current practices in Azerbaijan, and indicates areas for consideration to improve SOE corporate governance in Azerbaijan. The Note was prepared by a World Bank Group team, based on research and consultations during January - October 2017, to (i) analyze current SOE governance frameworks and practices in Azerbaijan and identify main deviations from international good practices; and (ii) develop a series of policy recommendations for further reforms in strengthening SOEs governance and improving their effectiveness. This work may serve as a basis for further collaboration between the World Bank and the Government of Azerbaijan towards SOE reform and related policy considerations. Given the significance of SOEs and a range of important socio-economic and political-economy related factors, improving SOEs governance in Azerbaijan is a significant challenge. Implementation of any of the recommendations contained in this Note should form part of a broader strategy for SOEs linked to economic and sector strategies in Azerbaijan. This Note aims to build on the priorities outlined by the Strategic Roadmaps for the national economy and main economic sectors of Azerbaijan for 2016-2020, signed by the President of Azerbaijan on December 6, 2016. The Roadmaps re-affirm Azerbaijan’s priorities in diversification of its oil-dominant economy, reduce the State’s participation in the existing state-owned enterprises, and enable more private sector led growth. 2018-08-14T17:01:03Z 2018-08-14T17:01:03Z 2017-11 Report http://documents.worldbank.org/curated/en/710781532553488335/Republic-of-Azerbaijan-Corporate-Governance-and-Ownership-of-State-Owned-Enterprises http://hdl.handle.net/10986/30207 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Public Sector Study Economic & Sector Work Europe and Central Asia Azerbaijan |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
STATE-OWNED ENTERPRISES CORPORATE GOVERNANCE INSTITUTIONAL PARTNERSHIPS CORPORATE SOCIAL RESPONSIBILITY BOARD OF DIRECTORS ACCOUNTABILITY PERFORMANCE APPRAISALS FINANCIAL REPORTING AUDITING FINANCIAL STATEMENTS TRANSPARENCY |
| spellingShingle |
STATE-OWNED ENTERPRISES CORPORATE GOVERNANCE INSTITUTIONAL PARTNERSHIPS CORPORATE SOCIAL RESPONSIBILITY BOARD OF DIRECTORS ACCOUNTABILITY PERFORMANCE APPRAISALS FINANCIAL REPORTING AUDITING FINANCIAL STATEMENTS TRANSPARENCY World Bank Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises |
| geographic_facet |
Europe and Central Asia Azerbaijan |
| description |
This Technical Note assesses the
corporate governance of state-owned enterprises (SOEs) in
Azerbaijan with a view to supporting the government’s
efforts to bolster economic development. Mutually
reinforcing recommendations are closely linked and aim to
increase accountability across the whole ownership structure
of SOEs, from their ultimate owners, the citizens, to their
employees. The Note outlines international good practice,
summarizes current practices in Azerbaijan, and indicates
areas for consideration to improve SOE corporate governance
in Azerbaijan. The Note was prepared by a World Bank Group
team, based on research and consultations during January -
October 2017, to (i) analyze current SOE governance
frameworks and practices in Azerbaijan and identify main
deviations from international good practices; and (ii)
develop a series of policy recommendations for further
reforms in strengthening SOEs governance and improving their
effectiveness. This work may serve as a basis for further
collaboration between the World Bank and the Government of
Azerbaijan towards SOE reform and related policy
considerations. Given the significance of SOEs and a range
of important socio-economic and political-economy related
factors, improving SOEs governance in Azerbaijan is a
significant challenge. Implementation of any of the
recommendations contained in this Note should form part of a
broader strategy for SOEs linked to economic and sector
strategies in Azerbaijan. This Note aims to build on the
priorities outlined by the Strategic Roadmaps for the
national economy and main economic sectors of Azerbaijan for
2016-2020, signed by the President of Azerbaijan on December
6, 2016. The Roadmaps re-affirm Azerbaijan’s priorities in
diversification of its oil-dominant economy, reduce the
State’s participation in the existing state-owned
enterprises, and enable more private sector led growth. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises |
| title_short |
Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises |
| title_full |
Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises |
| title_fullStr |
Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises |
| title_full_unstemmed |
Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises |
| title_sort |
republic of azerbaijan : corporate governance and ownership of state owned enterprises |
| publisher |
World Bank, Washington, DC |
| publishDate |
2018 |
| url |
http://documents.worldbank.org/curated/en/710781532553488335/Republic-of-Azerbaijan-Corporate-Governance-and-Ownership-of-State-Owned-Enterprises http://hdl.handle.net/10986/30207 |
| _version_ |
1764471406520696832 |