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

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collection.link.11
https://openknowledge.worldbank.org/handle/10986/2112
collection.name.11
Corporate Governance Assessment
dc.contributor.author
World Bank
dc.date.accessioned
2013-07-22T20:05:19Z
dc.date.available
2013-07-22T20:05:19Z
dc.date.issued
2002-09
dc.date.lastModified
2021-04-23T14:03:16Z
dc.description.abstract
Market capitalization of the Bulgarian Stock Exchange is low at four percent of gross Domestic Product, having fallen from a peak of seven percent in 1998. Similarly, market turnover remains low, even by the standards of transition economies. However in recent years, Bulgaria has made substantive concrete improvements in its legal and regulatory framework, in part in preparation of accession to the European Union. The Bulgarian National Securities Commission was established in 1996 and subsequent amendments to both the commercial and securities legislation strengthened the corporate governance framework. In particular, the 2001 revisions and amendments adopted in June 2002 substantially strengthened shareholder rights for "public" companies. In addition, proposed additional amendments will ensure pre-emptive rights of existing shareholders and will require legal entities to disclose both direct and indirect ownership interests in Bulgarian companies, where such interests are at five percent or more of the company. The assessment recommends three additional areas of improvements: 1) Amend the Commercial Law to establish a minimum quorum for shareholders' meetings and strengthen the duties of members of (supervisory) boards of directors. 2) Encourage private sector organizations and business associations to prepare a corporate governance code, encouraging improved corporate governance practices in the corporate sector. 3) Encourage the private sector to establish an Institute of Directors that could provide training and disseminate international practices for (supervisory) boards of directors.
en
dc.identifier
http://documents.worldbank.org/curated/en/2002/09/6732647/bulgaria-report-observance-standards-codes-rosc-corporate-governance-country-assessment
dc.identifier.uri
http://hdl.handle.net/10986/14459
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACQUISITION
dc.subject
ADMINISTRATIVE PROCEEDINGS
dc.subject
ADVISORY SERVICES
dc.subject
BALANCE SHEET
dc.subject
BANKS
dc.subject
BENEFICIAL OWNER
dc.subject
BENEFICIAL OWNERS
dc.subject
BOARD
dc.subject
BOARD MEMBER
dc.subject
BOARD MEMBERS
dc.subject
BOARD OF DIRECTORS
dc.subject
BOARDS OF DIRECTORS
dc.subject
BOOK VALUE
dc.subject
BRANCHES
dc.subject
BUSINESS COMMUNITY
dc.subject
CAPITAL INCREASE
dc.subject
CAPITAL INCREASES
dc.subject
CAPITAL MARKET
dc.subject
CAPITAL MARKETS
dc.subject
CERTIFIED ACCOUNTANT
dc.subject
CERTIFIED PUBLIC ACCOUNTANT
dc.subject
CERTIFIED PUBLIC ACCOUNTANTS
dc.subject
CHAMBER OF COMMERCE
dc.subject
CHARTER
dc.subject
CHIEF ACCOUNTANT
dc.subject
CLASS ACTIONS
dc.subject
CLASSES OF SHARES
dc.subject
COMMERCIAL LAW
dc.subject
COMMON POLICY
dc.subject
COMPANY
dc.subject
COMPANY MANAGEMENT
dc.subject
CONFIDENTIAL INFORMATION
dc.subject
CONFLICTS OF INTEREST
dc.subject
CONSOLIDATION
dc.subject
CONSOLIDATION OF ACCOUNTS
dc.subject
CONTINGENT LIABILITIES
dc.subject
CORPORATE CONTROL
dc.subject
CORPORATE GOVERNANCE
dc.subject
CORPORATE GOVERNANCE CODE
dc.subject
CORPORATE GOVERNANCE PRINCIPLE
dc.subject
CORPORATE GOVERNANCE PRINCIPLES
dc.subject
CORPORATE GOVERNANCE REFORM
dc.subject
CORPORATE GOVERNANCE REFORMS
dc.subject
CORPORATE OBJECTIVES
dc.subject
CORPORATE SECURITIES
dc.subject
CORPORATION
dc.subject
CORPORATIONS
dc.subject
DERIVATIVE ACTIONS
dc.subject
DISCLOSURE OF INFORMATION
dc.subject
DISCLOSURE REQUIREMENTS
dc.subject
DIVIDENDS
dc.subject
DUE CARE
dc.subject
EXTRAORDINARY SHAREHOLDERS
dc.subject
FINANCIAL DISCLOSURE
dc.subject
FINANCIAL REPORT
dc.subject
FINANCIAL STATEMENTS
dc.subject
FOREIGN INVESTMENT
dc.subject
FOREIGN SHAREHOLDERS
dc.subject
GOVERNMENT COMPANY
dc.subject
INCORPORATED
dc.subject
INDEPENDENT AUDIT
dc.subject
INITIAL PUBLIC OFFERING
dc.subject
INSIDER TRADING
dc.subject
INSTITUTIONAL FRAMEWORK
dc.subject
INSTITUTIONAL INVESTORS
dc.subject
INSURANCE COMPANIES
dc.subject
INTERNATIONAL STANDARDS
dc.subject
INVESTIGATION
dc.subject
INVESTMENT COMPANIES
dc.subject
INVESTMENT INTERMEDIARIES
dc.subject
JOINT STOCK
dc.subject
JOINT STOCK COMPANIES
dc.subject
LABOR LEGISLATION
dc.subject
LARGE ENTERPRISES
dc.subject
LEGAL ENTITIES
dc.subject
LEGAL ENTITY
dc.subject
LEGAL REQUIREMENTS
dc.subject
LEGAL STATUS
dc.subject
LIMITED
dc.subject
LIMITED LIABILITY
dc.subject
LIMITED LIABILITY COMPANIES
dc.subject
LISTED COMPANIES
dc.subject
MAJOR SHAREHOLDERS
dc.subject
MANAGEMENT
dc.subject
MANAGEMENT BOARD
dc.subject
MANAGEMENT COMPANIES
dc.subject
MANAGERS
dc.subject
MARKET CAPITALIZATION
dc.subject
MARKET PRICES
dc.subject
MARKET STRUCTURE
dc.subject
MEMBER BROKER
dc.subject
MERGER
dc.subject
MERGERS
dc.subject
NUMBER OF SHAREHOLDERS
dc.subject
NUMBER OF SHARES
dc.subject
PERSONS
dc.subject
PRIVATE PLACEMENT
dc.subject
PRIVATE SECTOR
dc.subject
PRIVATIZATION
dc.subject
PRIVATIZATION AGENCY
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PRIVATIZATION FUNDS
dc.subject
PRIVATIZATION PROCESSES
dc.subject
PROTECTING INVESTORS
dc.subject
PROTECTION OF COMPETITION
dc.subject
PROXY
dc.subject
PUBLIC COMPANIES
dc.subject
PUBLIC COMPANY
dc.subject
PUBLIC OFFERING
dc.subject
REGULATORY AUTHORITIES
dc.subject
REGULATORY FRAMEWORK
dc.subject
RIGHTS OF SHAREHOLDERS
dc.subject
SECURED CREDITOR
dc.subject
SECURITIES REGULATION
dc.subject
SHARE CAPITAL
dc.subject
SHARE OPTION
dc.subject
SHARE PRICE
dc.subject
SHAREHOLDER
dc.subject
SHAREHOLDER APPROVAL
dc.subject
SHAREHOLDER RIGHTS
dc.subject
SHAREHOLDER VOTE
dc.subject
SHAREHOLDERS
dc.subject
SHAREHOLDERS MEETING
dc.subject
SHAREHOLDERS RIGHTS
dc.subject
SHAREHOLDING
dc.subject
SINGLE SHAREHOLDER
dc.subject
SOLE PROPRIETORSHIPS
dc.subject
STAKEHOLDER
dc.subject
STAKEHOLDERS
dc.subject
STATE ENTERPRISES
dc.subject
STATEMENT
dc.subject
STOCK EXCHANGE
dc.subject
STOCK MARKET
dc.subject
STOCK OPTIONS
dc.subject
SUPPLIERS
dc.subject
TAKEOVER
dc.subject
TENDER OFFER
dc.subject
TENDER OFFERS
dc.subject
TRADE UNIONS
dc.subject
TRANSPARENCY
dc.subject
UNION
dc.subject
VOTING SHARES
dc.title
Report on the Observance of Standards and Codes : Corporate Governance Country Assessment, Bulgaria
en
okr.crosscuttingsolutionarea
Jobs
okr.crosscuttingsolutionarea
Public-Private Partnerships
okr.doctype
Economic & Sector Work :: Corporate Governance Assessment (ROSC)
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/2002/09/6732647/bulgaria-report-observance-standards-codes-rosc-corporate-governance-country-assessment
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Finance and Markets
okr.globalpractice
Governance
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000160016_20060418101934
okr.identifier.internaldocumentum
6732647
okr.identifier.report
35875
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/04/18/000160016_20060418101934/Rendered/PDF/358750BUL0ROSC0corporate0governance.pdf
en
okr.region.administrative
Europe and Central Asia
okr.region.country
Bulgaria
okr.sector
Finance :: Capital markets
okr.topic
Private Sector Development :: Privatization
okr.topic
Macroeconomics and Economic Growth :: Investment and Investment Climate
okr.topic
Law and Development :: Corporate Law
okr.topic
Finance and Financial Sector Development :: Microfinance
okr.topic
Small Scale Enterprise
okr.topic
Industry
okr.unit
Library & Archives ofDevelopment (IMTLA)
okr.volume
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