Publication:
Report on the Observance of Standards and Codes : Corporate Governance Country Assessment, Panama

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-07-22T20:10:43Z
dc.date.available2013-07-22T20:10:43Z
dc.date.issued2004-06
dc.description.abstractThis report provides an assessment of the corporate governance policy framework and enforcement and compliance practices in Panama. Much progress has been made since the drafting of the new Securities and Banking Laws in the late 1990s. The major issues are driven by the preponderance of banks. Given abundant debt financing, there is little need for equity financing. In addition, institutional investors are largely absent from the equity market. The main legislation concerning listed companies is based on US laws and is sophisticated, though poorly enforced. The report recommends: (1) a sufficient level of disclosure in practice, to enable the identification of beneficial owners and their exact stakes, in the annual report; (2) simplified shareholder redress, including a more active role for the securities regulator, so as to enable shareholders to challenge corporate decisions; (3) the creation of an effective audit oversight mechanism; (4) the re-introduction of the regulation on proxy solicitation, requiring the provision of sufficient information for shareholders to make informed voting decisions; (5) mandatory audit committees for all listed companies; (6) clearer fiduciary duties and liabilities of directors, and (7) the availability of relevant and useful training for board members. The report also proposes strengthening the securities regulator's ability to issue and enforce regulations on listed firms, their boards and shareholders and stricter monitoring of the quality of disclosure.en
dc.identifierhttp://documents.worldbank.org/curated/en/2004/06/6582362/panama-report-observance-standards-codes-rosc-corporate-governance-country-assessment
dc.identifier.doi10.1596/14460
dc.identifier.urihttps://hdl.handle.net/10986/14460
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectADMINISTRATIVE PROCEDURES
dc.subjectASSETS
dc.subjectAUDIT COMMITTEES
dc.subjectAUTHORIZATION
dc.subjectBANKS
dc.subjectBOLSA
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCOMPANY
dc.subjectCONSTITUTION
dc.subjectCORPORATE CONTROL
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE SECTOR
dc.subjectCORPORATION
dc.subjectCORPORATIONS
dc.subjectCOURT
dc.subjectDEBT
dc.subjectDEBT FINANCING
dc.subjectDECREE
dc.subjectDISCLOSURE
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectDIVIDENDS
dc.subjectEMERGING MARKETS
dc.subjectFINANCIAL DISTRESS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERESTS
dc.subjectFINANCIAL MARKETS
dc.subjectFIRMS
dc.subjectFOREIGN SHAREHOLDERS
dc.subjectFRAUD
dc.subjectGOING PRIVATE
dc.subjectGUIDELINES
dc.subjectINSIDER TRADING
dc.subjectINSTITUTIONAL FRAMEWORK
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSURANCE
dc.subjectINTERNATIONAL FINANCE
dc.subjectINVESTMENT ADVISORS
dc.subjectINVESTMENT CLIMATE
dc.subjectLATIN AMERICAN
dc.subjectLAWYERS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGISLATION
dc.subjectLIQUIDATION
dc.subjectLISTED COMPANIES
dc.subjectMERGERS
dc.subjectMINORITY SHAREHOLDERS
dc.subjectMUTUAL FUNDS
dc.subjectNATIONALS
dc.subjectOFFERINGS
dc.subjectOPERATING COMPANIES
dc.subjectPORTFOLIO
dc.subjectPRIVATE PENSION
dc.subjectPYRAMID STRUCTURES
dc.subjectREGULATORY BODIES
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY POWERS
dc.subjectREPRESENTATIVES
dc.subjectRISK MANAGEMENT
dc.subjectSHARE CAPITAL
dc.subjectSHAREHOLDER MEETING
dc.subjectSHAREHOLDER MEETINGS
dc.subjectSHAREHOLDERS
dc.subjectSOCIAL SECURITY
dc.subjectSTATEMENT
dc.subjectSTATEMENTS
dc.subjectTENDERS
dc.subjectTOTAL MARKET CAPITALIZATION
dc.subjectTRANSPARENCY
dc.subjectVOTING
dc.titleReport on the Observance of Standards and Codes : Corporate Governance Country Assessment, Panamaen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2006-02-07
okr.date.doiregistration2025-05-07T08:42:12.766197Z
okr.doctypeEconomic & Sector Work::Corporate Governance Assessment (ROSC)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2004/06/6582362/panama-report-observance-standards-codes-rosc-corporate-governance-country-assessment
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid774711468083930681
okr.identifier.externaldocumentum000160016_20060207124807
okr.identifier.internaldocumentum6582362
okr.identifier.report35169
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/02/07/000160016_20060207124807/Rendered/PDF/351690PN0Corpo1vernance0rosc1cg1pan.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryPanama
okr.sectorGeneral industry and trade sector
okr.sectorGeneral finance sector
okr.sectorIndustry and trade
okr.sectorFinance
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicGovernance::National Governance
okr.topicFinancial Crisis Management and Restructuring
okr.topicSmall Scale Enterprise
okr.topicIndustry
okr.unitCorporate Governance - WB (FCMCG)
okr.volume1 of 1
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