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