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