Publication: Corporate Governance Country Assessment : Azerbaijan
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2005-07
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2014-10-16
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This report assesses Azerbaijan's corporate governance framework-its laws and regulations, enforcement and common business practices. The report notes recent improvements in corporate governance regulation, makes recommendations of policy and institutional strengthening, and provides a benchmark against which to measure corporate governance in Azerbaijan. Note that the report covers only publicly-traded companies, although many of the recommendations may also be applicable to closely-held companies and state-owned enterprises. The report identifies three steps for improvement of corporate governance in Azerbaijan. They are: 1. Institution building, including strengthening of enforcement and independence of the Statistical Common Services; 2. Legal reform, specifically taking stock of recent legal changes and assuring their smooth interaction and functioning; and 3. Focus on several key areas for enforcement: related party transactions; reporting and transparency, including ownership disclosure and annual reporting; supervisory boards and other company governance organs; continued enforcement of bank corporate governance rules; and awareness raising.
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“World Bank. 2005. Corporate Governance Country Assessment : Azerbaijan. © http://hdl.handle.net/10986/20450 License: CC BY 3.0 IGO.”
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