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Corporate Governance in Israel 2011

image of Corporate Governance in Israel 2011
The Review of Corporate Governance in Israel was prepared as part of the process of Israel’s accession to OECD Membership. The report describes the corporate governance setting including the structure and ownership concentration of listed companies and the structure and operation of the state-owned sector. The Review then examines the legal and regulatory framework and company practices to assess the degree to which the recommendations of the OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-Owned Enterprises have been implemented.

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Corporate Governance Review

The Israeli corporate landscape in the decades following the creation of the nation was, for reasons of resource scarcity, strategic imperatives and ideology, dominated by state-owned enterprises and collectively held business groups under the control of the Histadrut trade union movement. Privately owned companies were largely in the hands of either individuals or families. However, efficiency and productivity evolved slowly in the publicly controlled companies and they became a major destination for government subsidies.

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