Strengthening the Governance and Performance of State-Owned Financial Institutions

Strengthening the Governance and Performance of State-Owned Financial Institutions

Corporate governance arrangements define the responsibilities, authorities and accountabilities of owners, boards of directors, and executive managers of a company. Good corporate governance is as important for state financial institutions as for...

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Bibliographic Details
Main Author:	Scott, David H.
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTABILITY ACQUISITIONS ARTICLES OF INCORPORATION AUDIT COMMITTEE AUDIT COMMITTEES AUDITS AUTHORITY AUTHORIZATION BALANCE SHEET BALANCE SHEETS BANKRUPTCY BANKRUPTCY LAW BANKS BOARD MEETING BOARD MEETINGS BOARD MEMBER BOARD MEMBERS BOARDS OF DIRECTORS BONDS BUSINESS DEVELOPMENT BUSINESS PRACTICE BUSINESS PRACTICES CASH FLOW CASH FLOW STATEMENTS CENTRAL BANK CENTRAL GOVERNMENT CENTRALIZATION CEO CEOS CHARTER CHIEF EXECUTIVE CODE OF CONDUCT COMMERCIAL BANK COMMERCIAL BANKING COMMERCIAL BANKS COMPANIES ACT COMPANY COMPANY LAW CONFIDENTIAL INFORMATION CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSTITUTION CONSTITUTIONAL ARRANGEMENTS CONTINGENT LIABILITIES CONTINGENT LIABILITY CORE BUSINESS CORPORATE ENTITY CORPORATE FINANCE CORPORATE GOVERNANCE CORPORATE GOVERNANCE ARRANGEMENT CORPORATE GOVERNANCE ARRANGEMENTS CORPORATE PERFORMANCE CORPORATE PRACTICES CORPORATION CORPORATIONS COST OF FUNDS COST STRUCTURE DEBT DEBTS DECISION-MAKING DEPOSIT DEPOSIT-TAKING INSTITUTIONS DEPOSITS DEVELOPMENT FINANCE DISCLOSURE DISCLOSURE OF INFORMATION DISCLOSURE REQUIREMENTS DIVIDEND DIVIDEND PAYMENT DIVIDEND PAYMENTS DIVIDEND POLICIES DIVIDENDS DUE DILIGENCE ECONOMIC DEVELOPMENT EQUITY INVESTMENT EQUITY INVESTMENTS EXCHANGE RATE FIDUCIARY RESPONSIBILITIES FINANCE CORPORATION FINANCIAL ANALYSIS FINANCIAL CONTROL FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL SERVICES INDUSTRY FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SUSTAINABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING ARRANGEMENTS FOREIGN EXCHANGE GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE PRACTICES GOVERNMENT ADMINISTRATION GOVERNMENT DEPARTMENT GOVERNMENT INTERVENTION GOVERNMENT OFFICIALS GOVERNMENT OWNERSHIP GOVERNMENT POLICY GOVERNMENT'S POLICY HOUSING FINANCE HUMAN RESOURCE HUMAN RESOURCE DEVELOPMENT INCOME INCORPORATED INDIVIDUALS INDUSTRIAL POLICY INFORMATION FLOWS INFORMATION SYSTEMS INFRASTRUCTURE PROJECTS INSTITUTIONAL ARRANGEMENT INSTITUTIONAL FOUNDATIONS INTEREST RATE INTERNAL AUDIT INTERNAL AUDIT FUNCTION INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INVESTOR PROTECTION LEGAL ENTITIES LEGAL FORM LEGAL REQUIREMENTS LEGISLATION LEGISLATURE LEGISLATURES LEGITIMACY LIMITED LOCAL GOVERNMENT LONG-TERM FINANCE LTD. MANAGERS MARKET DISTORTIONS MINISTERS MINISTRY OF FINANCE MOTIVATIONS MUNICIPALITIES OPERATIONAL RISK OUTPUTS PARTICIPATION OF GOVERNMENT OFFICIALS PENSION FUNDS PERFORMANCE MEASURE PERFORMANCE MEASURES PERSONS POOR GOVERNANCE PORTFOLIO PRESIDENCY PRICE RISKS PRIVATE CAPITAL PRIVATE COMPANIES PRIVATE COMPANY PRIVATE EQUITY PRIVATE FINANCIAL INSTITUTIONS PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR PARTICIPATION PRIVATIZATION PROXY PUBLIC COMPANIES PUBLIC FINANCE PUBLIC FUNDING PUBLIC FUNDS PUBLIC INSTITUTIONS PUBLIC PENSION PUBLIC POLICY PUBLIC SECTOR PUBLIC SECTOR FINANCE REGULATORY OVERSIGHT REGULATORY REGIME REGULATORY REQUIREMENTS REPRESENTATIVES RISK MANAGEMENT RISK MANAGEMENT COMMITTEE RISK MANAGEMENT POLICIES RISK MANAGEMENT SYSTEMS SALE OF SECURITIES SAVINGS SECURITIES SECURITIES LAWS SEPARATION OF OWNERSHIP SHAREHOLDER SHAREHOLDERS SHAREHOLDERS MEETINGS STAKEHOLDERS STATE FINANCE STATE INSTITUTIONS STATE INTERVENTION STATE OWNERSHIP STATE PROPERTY STATE-OWNED ENTERPRISES STOCK EXCHANGE SUBSIDIARIES SUBSIDIARY TAKEOVER TAX TAX LAW TECHNICAL ASSISTANCE TRADE UNIONS TRANSPARENCY TREASURY
Online Access:	http://documents.worldbank.org/curated/en/2007/08/8092434/strengthening-governance-performance-state-owned-financial-institutions http://hdl.handle.net/10986/7305

Description
Summary:	Corporate governance arrangements define the responsibilities, authorities and accountabilities of owners, boards of directors, and executive managers of a company. Good corporate governance is as important for state financial institutions as for private sector companies. Many of the problems that commonly afflict state financial institutions can be associated with, if not attributed directly to, weaknesses in corporate governance. This note draws on guidelines recently published by the OECD and the Basel Committee for Banking Supervision to compile a comprehensive corporate governance evaluation framework relevant to state-owned commercial and development finance institutions. It highlights aspects of this framework that are considered to be of particular importance to state financial institutions by citing innovative practices in a number of countries. Finally, it presents a detailed case study of the governance arrangements in place at the Development Bank of Southern Africa.

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