Protecting Investors

This topic measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain.

The table below shows the main indicators. They include:
  • transparency of transactions (Extent of Disclosure Index)
  • liability for self-dealing (Extent of Director Liability Index)
  • shareholders’ ability to sue officers and directors for misconduct (Ease of Shareholder Suit Index)
  • strength of Investor Protection Index (the average of the three index)
To see the details for a specific economy, use the dropdown box on the right or click on the links below. Click on column headers to sort data.

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Research

The Law and Economics of Self-Dealing (PDF, 816KB), by Djankov and others, Journal of Financial Economics, June 2008.
Region or EconomyExtent of disclosure index (0-10)Extent of director liability index (0-10)Ease of shareholder suits index (0-10)Strength of investor protection index (0-10)
Latin America & Caribbean4.05.36.05.1
South Asia4.34.36.45.0
Sub-Saharan Africa4.83.35.14.4
East Asia & Pacific5.14.66.35.3
OECD5.95.06.65.8
Eastern Europe & Central Asia6.14.36.15.5
Middle East & North Africa6.34.83.74.9
Afghanistan0020.7
Honduras0543.0
Lao PDR0321.7
Maldives0885.3
Micronesia, Fed. Sts.0082.7
Palau0082.7
Sudan0643.3
Swaziland0152.0
Switzerland0543.0
Bolivia1564.0
Cape Verde1564.0
Croatia1564.0
Ecuador1564.0
Greece1453.3
Panama1494.7
Suriname1052.0
Bahamas, the2574.7
Costa Rica2523.0
Czech Republic2585.0
Gambia, the2152.7
Haiti2343.0
Hungary2474.3
Lesotho2183.7
Marshall Islands2083.3
Philippines2284.0
Uganda2554.0
Austria3544.0
Belize3464.3
Bosnia and Herzegovina3665.0
Brunei Darussalam3284.3
Congo, Dem. Rep.3343.3
Fiji3876.0
Guatemala3364.0
Kenya32105.0
Kosovo3232.7
São Tomé and Principe3163.3
Slovak Republic3474.7
Slovenia3986.7
Solomon Islands3775.7
Tanzania3485.0
Timor-Leste3454.0
Tonga3384.7
Uruguay3485.0
Venezuela, R.B.3222.3
Zambia3675.3
Antigua and Barbuda4876.3
Burundi4153.3
Cyprus4475.0
Dominica4876.3
Eritrea4554.7
Ethiopia4454.3
Grenada4876.3
Iraq4544.3
Jamaica4845.3
Liberia4163.7
Malawi4755.3
Netherlands4464.7
Nicaragua4565.0
Seychelles4855.7
Sri Lanka4575.3
St. Kitts and Nevis4876.3
St. Lucia4876.3
St. Vincent and the Grenadines4876.3
Trinidad and Tobago4976.7
United Arab Emirates4724.3
Uzbekistan4634.3
Angola5665.7
Armenia5285.0
Belarus5184.7
Bhutan5344.0
Cambodia5925.3
Djibouti5202.3
Dominican Republic5485.7
El Salvador5264.3
Germany5555.0
Guyana5565.3
Iceland5565.3
Iran, Islamic Rep.5403.0
Jordan5444.3
Latvia5485.7
Lithuania5465.0
Madagascar5665.7
Mauritania5333.7
Mongolia5866.3
Montenegro5866.3
Mozambique5496.0
Namibia5565.3
Nigeria5755.7
Papua New Guinea5586.0
Qatar5645.0
Samoa5686.3
Spain5645.0
Tunisia5565.3
Ukraine5274.7
Vanuatu5655.3
Algeria6645.3
Argentina6264.7
Bangladesh6776.7
Benin6133.3
Brazil6735.3
Burkina Faso6143.7
Cameroon6164.3
Central African Republic6154.0
Chad6154.0
Comoros6154.0
Congo, Rep.6133.3
Côte d'Ivoire6133.3
Equatorial Guinea6143.7
Finland6475.7
Gabon6133.3
Guinea6112.7
Guinea-Bissau6154.0
Kiribati6576.0
Luxembourg6434.3
Mali6143.7
Mauritius6897.7
Morocco6213.0
Nepal6195.3
Niger6133.3
Pakistan6676.3
Paraguay6565.7
Portugal6576.0
Russian Federation6275.0
Senegal6123.0
Sierra Leone6766.3
Sweden6475.7
Syrian Arab Republic6524.3
Tajikistan6555.3
Togo6143.7
Vietnam6022.7
West Bank and Gaza6576.0
Yemen, Rep.6424.0
Azerbaijan7586.7
Botswana7836.0
Chile7656.0
Denmark7576.3
Ghana7566.0
India7476.0
Israel7998.3
Italy7465.7
Japan7687.0
Kazakhstan7195.7
Korea, Rep.7275.3
Kuwait7756.3
Moldova7164.7
Norway7676.7
Poland7296.0
Puerto Rico7687.0
Rwanda7936.3
Serbia7635.3
Taiwan, China7455.3
United States7998.3
Albania8957.3
Australia8275.7
Bahrain8455.7
Belgium8677.0
Canada8988.3
Colombia8898.3
Egypt, Arab Rep.8355.3
Estonia8365.7
Georgia8646.0
Kyrgyz Republic8787.7
Mexico8556.0
Oman8525.0
Peru8576.7
South Africa8888.0
Zimbabwe8144.3
Lebanon9155.0
Macedonia, FYR9746.7
Romania9546.0
Saudi Arabia9847.0
Turkey9445.7
Bulgaria10176.0
China10145.0
France10155.3
Hong Kong, China10899.0
Indonesia10536.0
Ireland10698.3
Malaysia10978.7
New Zealand109109.7
Singapore10999.3
Thailand10767.7
United Kingdom10778.0