In November 2015, the Group of 20 (G20) countries endorsed the revised OECD Prin

Question

Explanation / Answer

G- 20 Organisation

The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States and the European Union. Founded in 1999, the G20 aims to discuss policy pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization. The G20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008, and the group also hosts separate meetings of finance ministers and foreign ministers due to the expansion of its agenda in recent years.

G20 Leaders endorse G20/OECD Principles of Corporate Governance.

16/11/2015, Antalya - G20 Leaders endorsed the new global standard on corporate governance that will help policy makers to evaluate and improve their national corporate governance frameworks with a view to promote market-based financing and to boost long-term investment.

The G20/OECD Principles of Corporate Governance represent a shared understanding with respect to corporate governance standards and practices in areas such as transparency, disclosure, accountability, board oversight, shareholder rights and the role of key stakeholders. They also provide recommendations for national policymakers on executive remuneration, the behaviour of institutional investors and how stock markets should function.

“The Principles clearly identify the key building blocks for a sound corporate governance framework and offer practical guidance for implementation at a national level,” said OECD Secretary-General Angel Gurría at the G20 Leaders Summit in Antalya. “Importantly, their implementation will help us build an environment of trust, transparency and accountability so that the financial sector can serve the needs of the real economy in terms of access to long term capital and investment.”

Developed by the OECD in 1999, the Principles are the international corporate governance benchmark for policy makers, investors, corporations and other stakeholders worldwide. They have also been adopted as one of the Financial Stability Board’s (FSB) key standards for sound financial systems.

In 2013 the OECD launched an ambitious and inclusive review of the Principles, with all G20 countries invited to participate on an equal footing. The review benefitted from extensive public consultations and the participation of key international institutions - notably the Basel Committee, the FSB and the World Bank, leading to the G20 agreement in Antalya.

The china OECD corporate governance endorsement on state owned enterprises

The dynamic expansion of China’s equity market has placed corporate governance high on the country’s reform agenda. A strong corporate governance framework is considered crucial to the success of enterprise reform and capital market development. China’s leadership has generated strong momentum towards creating an efficient corporate governance framework. However, like other countries with significant state ownership, China faces the challenge of finding an appropriate balance between the government’s responsibilities as an active owner, and the need to refrain from undue political interference in the management of the company (particularly in the boardroom).

The specific challenges for developing countries as they establish a Western-style corporate governance structure

China-OECD Co-operation on Corporate Governance

This partnership:

                governance reform; Usually developing countries gets benefit out it in meeting supply   

                 versus    demand in mitigating oil prises.

      Chinese corporate governance community;

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.