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Corporate Governance

Corporate Governance Scorecards Training and Consultation


Date: June 2-3, 2014
Location: Vienna, Austria 

 

In association with a training and consultation with a number of IFC's counterparts around the world working on corporate governance reforms and implementation of corporate governance codes, IFC launched the Corporate Governance Scorecards supplement to IFC's Toolkit 2: Developing Corporate Governance Codes of Best Practice. Corporate governance scorecards are quantitative tools to measure governance practices and support the code implementation process. Over 40 people participated, including representatives from stock exchanges, regulators, academia, and institutes of directors.


 


View more photos from this event (Flickr)

                                                                                                   


Download the publication: Corporate Governance Scorecards - Assessing and Promoting the Implementation of Codes of Corporate Governance 

 

Agenda and presentations are below:

 


Defining Key Terms and Issues – CG Scorecards and Codes of Best Practice

Issues discussed:
 

  • What is a working definition of a scorecard?
  • What are the goals of scorecards and outcomes?
  • What types of benchmarks are being used for scorecards?
  • What kinds of codes are there?
  • What tools are available to encourage code compliance?
  • What is the evidence that scorecards encourage code compliance?
  • What is in CG Scorecards Supplement? Why was it created? How to use the supplement?


Corporate Governance Scorecards - Introduction

 

Measurable Outcomes – What does a Scorecard Achieve?

Inputs from Vietnam and Mongolia by Anne Molyneux, Director, CS International
 

A Bulgarian Overview by Bistra Boeva, Professor at the University of National and World Economy; member of the Private Sector Advisory Group, Corporate Governance, IFC
 

Governance of State-Owned Enterprises in the Baltic states  |  Talking points by Kristian Kaas Mortensen, President, Baltic Institute of Corporate Governance
 

German and International Perspectives by Christian Strenger, Academic Director, Center for CG HHL - Leipzig Graduate School of Management, Deputy Chairman, Private Sector Advisory Group, IFC
 


Issues discussed:
 

  • What types of reports were developed on the basis of the scorecards?
  • What outcomes were achieved on the level of the institution owner of the scorecard?
  • Were there wider impacts in the economy stemming from the usage of the scorecard?

 


Step-by-Step Process in Developing a Scorecard



Step 1 - Establish Clear and Realistic Goals


Step-by-Step Process in Developing a Corporate Governance Scorecard by Ralitza Germanova, Associate Operations Officer, Corporate Governance Group, IFC
 

IFC's Support in Developing the Scorecard in Nigeria by Chinyere Almona, Head, Corporate Governance Program & Senior Operations Officer, Sub-Saharan Africa, IFC
 

Development of a Corporate Governance Scorecard in Albania by Brunilda Paskali, Deputy Minister, Ministry of Economics and Trade Entrepreneurship, Albania
 

BELEX objectives in developing scorecard in Serbia by Lidija Šeškar, Corporate Communications Adviser, Belgrade Stock Exchange
 

SEAN Corporate Governance Scorecard: Background, Objectives and Challenges by Moez Miaoui, Program Manager, Indonesia Corporate Governance Program, IFC East Asia and the Pacific


Issues discussed:
 

  • Where to start in thinking about developing a scorecard?
  • Assessing the market and corporate governance framework
  • What are the objectives of different institutions?
  • How to align the objectives of your institution to the expectations from a scorecard?
  • What are the red flags and lessons learned?



Step 2 - Recruit the Institutions to Lead and Implement the Project


Kazakhstan Stock Exchange: The Need of a Committed Institution that Leads the Development and Implementation of a Scorecard by Amina Turgulova,  Head, International Business, Kazakhstan Stock Exchange
 

Development of the Hellenic Corporate Governance Code Monitoring and Assessment System  |  Recruit the Institutions to Lead and Implement the Project – Hellenic Corporate Governance Council Experience  by Leda Condoyanni, General Manager, Hellenic Corporate Governance Council
 


 

Issues discussed:
 

  • Why is it important to have a committed institution that leads the development and implementation of a scorecard?
  • What challenges the institutions leading a scorecard project face?
  • How to identify key stakeholders and engage them in the beginning of the scorecard development? What issues arise if you have two institutions developing scorecards in the same market?
  • Can you take advantage and engage the Task Forces that developed the corporate
    governance codes in the country? What are the benefits in engaging more than one stakeholder?

 


Step 3 - Developing a Scorecard

 

Development of a Corporate Governance Scorecard by Kiril Nejkov, Operations Officer, Corporate Governace, IFC Europe and Central Asia
 

Scorecard development in Kazakhstan by Arman Berdalin, Partner, Sayat Zholshy & Partners


 

What Benchmarks were Used for the Scorecard of Philippines Institute of Corporate Directors and ASEAN Scorecard? by Robert Bascon, Manager, Corporate Governance Scorecards, Institute of Corporate Directors, Philippines
 


Issues discussed:
 

  • Draft a delivery plan
  • Choose the benchmark
  • Develop the scorecard structure
  • Select the platform
  • Solicit stakeholder feedback
  • Pilot test the scorecard

 

 

Step 4 - Conduct the Scorings

 

Experience of Azerbaijan Ministry of Economic Development by Anar Hajizadeh, Head, Corporate Governance, Ministry of Economic Development, Azerbaijan
 

The Banja Luka Stock Exchange Overview by Adriana Baralic, Member Listing, Education and PR Department, Banja Luka Stock Exchange, Bosnia and Herzegovina
 

Vietnam Corporate Governance Scorecard Experience by Nguyet Anh, Operations Officer, Vietnam Corporate Governance Project, IFC East Asia and the Pacific
 

Palestinian Capital Market Authority Methodology by Dr. Bashar Abu Zarour, Director Research, Development, and Corporate Governance, Palestine Capital Market Authority
 


Issues discussed:
 

  • What is the correct “platform”?
  • Do you need to pilot test?
  • Can/should scorecards be mandatory or voluntary?
  • How can one encourage participation?
  • What are techniques for an effective scoring?
  • How can one ensure that the quality of the collected information is satisfactory?
  • What are the challenges and how does one respond?


 

 

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