Scott, David H.2012-06-062012-06-062007-08https://hdl.handle.net/10986/7305Corporate governance arrangements define the responsibilities, authorities and accountabilities of owners, boards of directors, and executive managers of a company. Good corporate governance is as important for state financial institutions as for private sector companies. Many of the problems that commonly afflict state financial institutions can be associated with, if not attributed directly to, weaknesses in corporate governance. This note draws on guidelines recently published by the OECD and the Basel Committee for Banking Supervision to compile a comprehensive corporate governance evaluation framework relevant to state-owned commercial and development finance institutions. It highlights aspects of this framework that are considered to be of particular importance to state financial institutions by citing innovative practices in a number of countries. Finally, it presents a detailed case study of the governance arrangements in place at the Development Bank of Southern Africa.CC BY 3.0 IGOACCOUNTABILITYACQUISITIONSARTICLES OF INCORPORATIONAUDIT COMMITTEEAUDIT COMMITTEESAUDITSAUTHORITYAUTHORIZATIONBALANCE SHEETBALANCE SHEETSBANKRUPTCYBANKRUPTCY LAWBANKSBOARD MEETINGBOARD MEETINGSBOARD MEMBERBOARD MEMBERSBOARDS OF DIRECTORSBONDSBUSINESS DEVELOPMENTBUSINESS PRACTICEBUSINESS PRACTICESCASH FLOWCASH FLOW STATEMENTSCENTRAL BANKCENTRAL GOVERNMENTCENTRALIZATIONCEOCEOSCHARTERCHIEF EXECUTIVECODE OF CONDUCTCOMMERCIAL BANKCOMMERCIAL BANKINGCOMMERCIAL BANKSCOMPANIES ACTCOMPANYCOMPANY LAWCONFIDENTIAL INFORMATIONCONFLICTS OF INTERESTCONFLICTS OF INTERESTSCONSTITUTIONCONSTITUTIONAL ARRANGEMENTSCONTINGENT LIABILITIESCONTINGENT LIABILITYCORE BUSINESSCORPORATE ENTITYCORPORATE FINANCECORPORATE GOVERNANCECORPORATE GOVERNANCE ARRANGEMENTCORPORATE GOVERNANCE ARRANGEMENTSCORPORATE PERFORMANCECORPORATE PRACTICESCORPORATIONCORPORATIONSCOST OF FUNDSCOST STRUCTUREDEBTDEBTSDECISION-MAKINGDEPOSITDEPOSIT-TAKING INSTITUTIONSDEPOSITSDEVELOPMENT FINANCEDISCLOSUREDISCLOSURE OF INFORMATIONDISCLOSURE REQUIREMENTSDIVIDENDDIVIDEND PAYMENTDIVIDEND PAYMENTSDIVIDEND POLICIESDIVIDENDSDUE DILIGENCEECONOMIC DEVELOPMENTEQUITY INVESTMENTEQUITY INVESTMENTSEXCHANGE RATEFIDUCIARY RESPONSIBILITIESFINANCE CORPORATIONFINANCIAL ANALYSISFINANCIAL CONTROLFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MARKETFINANCIAL MARKET DEVELOPMENTFINANCIAL MARKETSFINANCIAL PERFORMANCEFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL SERVICESFINANCIAL SERVICES INDUSTRYFINANCIAL STATEMENTSFINANCIAL SUPPORTFINANCIAL SUSTAINABILITYFINANCIAL SYSTEMFINANCIAL SYSTEMSFINANCING ARRANGEMENTSFOREIGN EXCHANGEGOOD CORPORATE GOVERNANCEGOOD GOVERNANCEGOVERNANCE PRACTICESGOVERNMENT ADMINISTRATIONGOVERNMENT DEPARTMENTGOVERNMENT INTERVENTIONGOVERNMENT OFFICIALSGOVERNMENT OWNERSHIPGOVERNMENT POLICYGOVERNMENT'S POLICYHOUSING FINANCEHUMAN RESOURCEHUMAN RESOURCE DEVELOPMENTINCOMEINCORPORATEDINDIVIDUALSINDUSTRIAL POLICYINFORMATION FLOWSINFORMATION SYSTEMSINFRASTRUCTURE PROJECTSINSTITUTIONAL ARRANGEMENTINSTITUTIONAL FOUNDATIONSINTEREST RATEINTERNAL AUDITINTERNAL AUDIT FUNCTIONINTERNAL CONTROLINTERNAL CONTROLSINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL CAPITALINTERNATIONAL CAPITAL MARKETSINVESTOR PROTECTIONLEGAL ENTITIESLEGAL FORMLEGAL REQUIREMENTSLEGISLATIONLEGISLATURELEGISLATURESLEGITIMACYLIMITEDLOCAL GOVERNMENTLONG-TERM FINANCELTD.MANAGERSMARKET DISTORTIONSMINISTERSMINISTRY OF FINANCEMOTIVATIONSMUNICIPALITIESOPERATIONAL RISKOUTPUTSPARTICIPATION OF GOVERNMENT OFFICIALSPENSION FUNDSPERFORMANCE MEASUREPERFORMANCE MEASURESPERSONSPOOR GOVERNANCEPORTFOLIOPRESIDENCYPRICE RISKSPRIVATE CAPITALPRIVATE COMPANIESPRIVATE COMPANYPRIVATE EQUITYPRIVATE FINANCIAL INSTITUTIONSPRIVATE SECTOR DEVELOPMENTPRIVATE SECTOR PARTICIPATIONPRIVATIZATIONPROXYPUBLIC COMPANIESPUBLIC FINANCEPUBLIC FUNDINGPUBLIC FUNDSPUBLIC INSTITUTIONSPUBLIC PENSIONPUBLIC POLICYPUBLIC SECTORPUBLIC SECTOR FINANCEREGULATORY OVERSIGHTREGULATORY REGIMEREGULATORY REQUIREMENTSREPRESENTATIVESRISK MANAGEMENTRISK MANAGEMENT COMMITTEERISK MANAGEMENT POLICIESRISK MANAGEMENT SYSTEMSSALE OF SECURITIESSAVINGSSECURITIESSECURITIES LAWSSEPARATION OF OWNERSHIPSHAREHOLDERSHAREHOLDERSSHAREHOLDERS MEETINGSSTAKEHOLDERSSTATE FINANCESTATE INSTITUTIONSSTATE INTERVENTIONSTATE OWNERSHIPSTATE PROPERTYSTATE-OWNED ENTERPRISESSTOCK EXCHANGESUBSIDIARIESSUBSIDIARYTAKEOVERTAXTAX LAWTECHNICAL ASSISTANCETRADE UNIONSTRANSPARENCYTREASURYWorld Bank10.1596/1813-9450-4321