During the last year IFC has ramped up its corporate governance training for smaller businesses in the Middle East and North Africa, part of an effort to spur economic development in the post-Arab Spring.
IFC hosted a Corporate Governance conference in Port au Prince aimed at helping Haitian firms and family-owned businesses develop sound corporate governance practices to operate more efficiently and improve their access to capital.
Boards will confront disputes involving corporate governance issues that they are not equipped to resolve, but few directors see the need to learn about alternative dispute resolution approaches - until they end up with an ineffective board.
Recent research indicates that companies with increased number of women on boards experienced higher business performance. Promoting the presence of women on boards is one strategy step to nurture corporate performance.
Corporate governance refers to the structures and processes for the direction and control of companies. Corporate governance concerns the relationships among the management, Board of Directors, controlling shareholders, minority shareholders and other stakeholders. Good corporate governance contributes to sustainable economic development by enhancing the performance of companies and increasing their access to outside capital.