Publication: Corporate Governance Country Assessment : Togo
Date
2009-03
ISSN
Published
2009-03
Author(s)
World Bank
Abstract
The purpose of this ROSC assessment
of corporate governance in Togo is to help improve corporate
governance in the country by assessing law and practice,
suggesting reforms, and supporting the country in its effort
to implement changes for better corporate governance.
Corporate governance refers to the structures and processes
for the direction and control of companies. Corporate
governance concerns the relationships among the management,
board of directors, controlling shareholders, minority
shareholders and other stakeholders. This definition focuses
on company performance and shareholder value. For emerging
market countries, improving corporate governance can serve a
number of important public policy objectives. Good corporate
governance reduces emerging market vulnerability to
financial crises, reinforces property rights, reduces
transaction costs and the cost of capital, and leads to
capital market development. Weak corporate governance
frameworks reduce investor confidence, and can discourage
outside investment. In state-owned enterprises (SOEs), good
corporate governance could improve performance and social
service, and lessen impact on state budget. Due to the small
market size for listed securities in Togo, the scope of the
present report is broadened to include a corporate
governance assessment of non-listed public limited
companies, SOEs, as well as private and state-owned banks (SOBs).
Citation
“World Bank. 2009. Corporate Governance Country Assessment : Togo. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/20434 License: CC BY 3.0 IGO.”