World Bank2014-10-162014-10-162005-07https://hdl.handle.net/10986/20450This 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.en-USCC BY 3.0 IGOACCOUNTANTACCOUNTINGACCOUNTING RULESACCOUNTING STANDARDSAUCTIONAUDIT COMMITTEEAUDIT STANDARDAUDIT STANDARDSBAILIFFBALANCE SHEETBANK MANAGEMENTBANK REGULATIONBANKING SECTORBANKING SECTORSBANKRUPTCYBANKRUPTCY PROCEDURESBENEFICIARIESBENEFICIARYBIDBONDSBOOK VALUEBROKERBROKERAGEBROKERSBUSINESS OPPORTUNITIESBUSINESS OPPORTUNITYBUSINESS PRACTICESBUY BACKCAPITAL MARKETCAPITAL MARKET DEVELOPMENTCAPITAL MARKETSCAPITAL STRUCTURESCENTRAL DEPOSITORYCIVIL CODECIVIL LAWCLASS ACTIONCOLLATERALCOLLECTION PROCEDURESCOMMERCIAL BANKSCOMMERCIAL REGISTRIESCOMMERCIAL REGISTRYCOMMON SHARESCOMPANY INFORMATIONCONFLICT OF INTERESTCONFLICTS OF INTERESTCONSUMER PROTECTIONCONTROLLING SHAREHOLDERSCORPORATE CHARTERSCORPORATE GOVERNANCECORPORATE GOVERNANCE FRAMEWORKCORPORATE GOVERNANCE FRAMEWORKSCORPORATE GOVERNANCE REFORMCORPORATE GOVERNANCE REFORMSCORPORATE GOVERNANCE STANDARDSCORPORATE INFORMATIONCORPORATE SOCIAL RESPONSIBILITYCOST OF CAPITALCREDIT INFORMATIONCREDITORCREDITOR RIGHTSCREDITORSDEBTDEBT COLLECTIONDEBTORDEBTORSDEPOSITORY SERVICESDERIVATIVEDISCLOSURE REQUIREMENTSDIVIDENDDIVIDEND PAYMENTSDIVIDENDSECONOMIC DEVELOPMENTECONOMIC PERFORMANCEEFFICIENT MARKETSEMERGING MARKETEMERGING MARKET COUNTRIESEQUITY INVESTMENTEQUITY MARKETEQUITY MARKETSEXCHANGE MARKETFINANCIAL COMPANIESFINANCIAL CRISESFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL SECTORFINANCIAL STATEMENTSFOREIGN INSTITUTIONAL INVESTORSFOREIGN INVESTMENTFOREIGN INVESTORFOREIGN INVESTORSFOREIGN OWNERSHIPGOOD CORPORATE GOVERNANCEGOVERNANCE ISSUESGOVERNANCE PRACTICESGOVERNANCE REGULATIONGOVERNANCE REGULATIONSGOVERNANCE STANDARDSHOLDINGSINCOMEINFORMATION TECHNOLOGYINSIDER TRADINGINSTITUTION BUILDINGINSTITUTIONAL CAPACITYINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINTERNAL AUDITINTERNAL CONTROLINTERNATIONAL BANKINTERNATIONAL STANDARDSINVESTMENT FUNDSINVESTOR CONFIDENCEINVESTOR INTERESTINVESTOR PROTECTIONISSUANCEJOINT-STOCK COMPANYJURISDICTIONLARGE COMPANIESLEGAL FRAMEWORKLEGAL PROVISIONSLEGAL REFORMLEGAL REGIMELEGAL RIGHTSLIMITEDLIMITED LIABILITYLIMITED LIABILITY COMPANIESLIQUIDATIONLIQUIDATIONSLIQUIDITYLOCAL BUSINESSMARKET CAPITALIZATIONMARKET PARTICIPANTMARKET PARTICIPANTSMARKET PRICEMARKET PRICESMARKET SURVEILLANCEMARKET-MAKERSMINIMUM CAPITAL REQUIREMENTSMINORITY SHAREHOLDERSMONETARY FUNDMUTUAL FUNDSNATIONAL BANKNATIONAL DEPOSITORYNATIONAL DEPOSITORY SYSTEMNOTARIESNOTARYOPEN JOINT-STOCK COMPANIESOWNERSHIP DATAOWNERSHIP RIGHTSPAYMENT OF DIVIDENDSPENSIONPENSION FUNDSPENSIONSPLEDGESPORTFOLIOPORTFOLIO INVESTMENTPREEMPTIVE RIGHTSPRIVATE PENSIONPRIVATE REGISTRIESPRIVATE REGISTRYPRIVATIZATIONPROPERTY RIGHTSPROPORTIONAL REPRESENTATIONPROTECTION OF INVESTORPUBLIC POLICYREAL ESTATEREGULATORREGULATORSREGULATORY FRAMEWORKREGULATORY REGIMEREGULATORY REQUIREMENTSRETIREMENT SAVINGSRETURNRIGHTS OF SHAREHOLDERSRISK FACTORSRULE OF LAWSECURITIESSECURITIES ISSUERSSECURITIES ISSUESSECURITIES MARKETSECURITIES MARKET DEVELOPMENTSECURITIES MARKETSSECURITIES REGULATORSECURITY MARKETSETTLEMENTSETTLEMENT SERVICESSHARE DIVIDENDSHARE OWNERSHIPSHARE TRADINGSHAREHOLDERSHAREHOLDER MEETINGSSHAREHOLDER RIGHTSSHAREHOLDERSSTAKEHOLDERSSTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSTOCK OPTIONSTRATEGIC INVESTORSSUPERVISORY BOARDSUPERVISORY BOARDSTAXTECHNICAL ASSISTANCETRADE INFORMATIONTRADE UNIONSTRADESTRADINGTRANSACTIONTRANSACTION COSTSTRANSITION COUNTRIESTRANSPARENCYTREASURYWEAK CORPORATE GOVERNANCEWITHDRAWAL10.1596/20450