Corporate Governance Country Assessment : Brazil

Abstract

This report assesses Brazil'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
 Brazil. It is an update of the 2005 corporate governance
 Report on the Observance of Standards and Codes (ROSC).
 Brazil's experience over the past 10 years has shown
 the value of corporate governance reforms, both in Brazil
 and around the world. Good corporate governance enhances
 investor trust, helps to protects minority shareholders, and
 can encourage better decision making and improved 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
 is organized into four sections: section one is the
 commitment of the public and private sectors to reform;
 section two is shareholder rights; section three is
 disclosure and transparency; and section four is boards of directors.