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