Dataset

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2. World Bank Indicators
3. Protecting minority investors: Extent of disclosure index (0-10)

Protecting minority investors: Extent of disclosure index (0-10)

The extent of disclosure index measures the approval and disclosure requirements of related-party transactions. It has five components: (i) whether it is the managing director alone, the board of directors, or the general meeting of shareholders the corporate body who can provide legally sufficient approval for the transaction (points are assigned depending on whether interested directors are permitted to vote or not); (ii) whether an external body (an independent auditor, for example) must review the transaction before it takes place; (iii) whether disclosure by Mr. James to the board of directors or the supervisory board is required; (iv) whether immediate disclosure of the transaction to the public, the regulator or the shareholders is required; and (v) whether disclosure in periodic filings (for example, annual reports) is required.