World Bank2014-10-162014-10-162007-12https://hdl.handle.net/10986/20449Good corporate governance ensures that companies use their resources more efficiently, protects minority shareholders, leads to better decision making, and improves relations with workers, creditors, and other stakeholders. It is an important prerequisite for attracting the patient capital needed for sustained long-term economic growth. This report provides an assessment of Kenya s corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Kenya.en-USCC BY 3.0 IGOACCESS TO INFORMATIONACCOUNTINGALTERNATIVE INVESTMENTAUDIT COMMITTEEAUDITSBANKING SECTORBENEFICIARIESBIDBOARD MEMBERBONDSBONUS SHARESBROKERBROKERAGEBROKERAGE FIRMSBROKERSBULL MARKETCAPITAL MARKETCAPITAL MARKET REGULATIONSCAPITAL MARKETSCAPITAL STRUCTURECAPITAL STRUCTURESCDSCENTRAL BANKCENTRAL DEPOSITORIESCENTRAL DEPOSITORYCENTRAL DEPOSITORY SYSTEMCENTRAL SECURITIES DEPOSITORYCEOCERTIFIED PUBLIC ACCOUNTANTSCHIEF EXECUTIVECODE OF CONDUCTCOMMERCIAL BANKCOMMON LAWCOMPANIES ACTCOMPANY INFORMATIONCOMPANY LAWCONFLICTS OF INTERESTCONFLICTS OF INTERESTSCONTRACT ENFORCEMENTCORPORATE BONDSCORPORATE GOVERNANCECORPORATE GOVERNANCE FRAMEWORKCORPORATE GOVERNANCE PRINCIPLESCORPORATE INFORMATIONCORPORATE INSIDERSCORPORATE SOCIAL RESPONSIBILITYCORPORATIONCREDIT RATINGCREDIT RATING AGENCYCREDITORCREDITOR RIGHTSCREDITORSCUSTODYDEBTDEPOSITORY INSTITUTIONSDISCLOSURE STANDARDSDISPUTE RESOLUTIONSDIVIDENDDIVIDEND PAYMENTSDOMESTIC INSTITUTIONAL INVESTORSDUE DILIGENCEECONOMIC PERFORMANCEEFFICIENT MARKETSEMERGING MARKETEMERGING MARKET ECONOMIESEMERGING MARKETSENFORCEMENT MECHANISMSEQUITY MARKETEQUITY MARKETSFEE INCOMEFINANCIAL COMPANIESFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL STATEMENTFINANCIAL STATEMENTSFIXED INCOMEFIXED INCOME SECURITIESFOREIGN COMPANIESFOREIGN COMPANYFOREIGN FUNDSFOREIGN INSTITUTIONAL INVESTORSFOREIGN INVESTORSFRAUDFUND MANAGEMENTFUND MANAGERSGOOD CORPORATE GOVERNANCEGOVERNANCE GUIDELINESGOVERNANCE PRACTICESGOVERNANCE REGULATIONGOVERNANCE REGULATIONSGOVERNMENT SECURITIESGROSS DOMESTIC PRODUCTHARMONIZATIONHOLDINGHOLDINGSHOSTILE TAKEOVERINCOME SECURITIES MARKETINFORMATION TECHNOLOGIESINSIDER TRADINGINSTITUTIONAL INVESTORINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINTERNAL AUDITINTERNAL CONTROLSINTERNATIONAL BEST PRACTICEINTERNATIONAL STANDARDSINVESTMENT BANKINGINVESTMENT BANKSINVESTMENT MARKETINVESTOR ACCESSINVESTOR CONFIDENCEINVESTOR PROTECTIONIPOJOINT STOCK COMPANYJURISDICTIONJURISDICTIONSLEGAL AUTHORITYLEGAL FRAMEWORKLEGAL OWNERSHIPLEGAL PROTECTIONLEGAL REFORMLEGAL RIGHTSLEGAL TRADITIONLIABILITYLIMITEDLIMITED PARTNERSHIPSMAJORITY SHAREHOLDERMARKET CAPMARKET CAPITALIZATIONMARKET CAPITALIZATIONSMARKET DATAMARKET DEVELOPMENTMARKET INTERMEDIARIESMARKET MANIPULATIONMARKET PARTICIPANTSMARKET PRACTICESMARKET PRICEMARKET REGULATORMARKET SURVEILLANCEMARKET TRANSPARENCYMEMBER BROKERSMINORITY SHAREHOLDERMINORITY SHAREHOLDERSMONOPOLIESNATIONAL BANKNOMINEE ACCOUNTSOWNERSHIP RIGHTSPAYMENT OF DIVIDENDSPAYMENT OF INTERESTSPENSIONPENSION FUNDSPENSIONSPREEMPTIVE RIGHTSPRIVATIZATIONPRIVATIZATIONSPROPORTIONAL REPRESENTATIONPUBLIC COMPANIESRAPID DEVELOPMENTRAPID GROWTHREGULATORSREGULATORY AUTHORITYREGULATORY BODIESREGULATORY BODYREGULATORY OVERSIGHTREGULATORY REQUIREMENTSREPUTATIONRIGHTS OF SHAREHOLDERSRISK FACTORSRULE OF LAWSCANDALSSECURITIESSECURITIES EXCHANGESECURITIES INDUSTRYSECURITIES ISSUESECURITIES ISSUESSECURITIES LAWSECURITIES MARKETSSECURITIES REGULATORSETTLEMENTSHARE OWNERSHIPSHAREHOLDERSHAREHOLDER AGREEMENTSHAREHOLDER AGREEMENTSSHAREHOLDER RIGHTSSHAREHOLDERS RIGHTSSTAKEHOLDERSSTANDARD CONTRACTSTOCK EXCHANGESTOCK EXCHANGESSTOCK OWNERSHIPSTOCKSSTRATEGIC INVESTORSUPERVISORY AUTHORITYTAXTECHNICAL ASSISTANCETRADINGTRADING SYSTEMTRADING VOLUMETRANCHESTRANSACTIONTRANSPARENCYTREASURYTURNOVERTURNOVER RATIOWITHDRAWALWORLD DEVELOPMENT INDICATORS10.1596/20449