site.btaBulgaria to Participate for First Time in OECD Corporate Governance Factbook Study

Bulgaria has been included in the Organization for Economic Co-operation and Development's (OECD) leading biennial study, the OECD Corporate Governance Factbook, the Financial Supervision Commission announced on their website on Friday. The 2025 edition presents the latest data and policies on corporate governance in 52 countries, covering all OECD and G20 economies. Alongside Bulgaria, both Croatia and Romania are participating in the analysis for the first time.

The study examines how corporate governance policies and regulatory frameworks are evolving in response to dynamic changes in capital markets, digitalization, and sustainable finance. The report serves as an international benchmarking tool for regulators, reflecting the implementation of the OECD and G20 Principles of Corporate Governance.

According to the study, institutional investors own 47% of the global volume of listed shares, leading to the wider application of codes of responsible behaviour. In Bulgaria, institutional investors own 7% of the volume of listed shares, while the corporate sector accounted for the largest share at the end of 2024, according to information posted on Bulgaria's profile on the OECD website, as reported by the Bulgarian News Agency.

The OECD Corporate Governance Factbook reveals that 73% of countries publish national reports on the implementation of corporate governance codes. Virtual general meetings are permitted in 85% of jurisdictions and hybrid meetings in 94%. Women occupy 29% of seats on management bodies, compared to 22% five years ago.

According to Bulgaria's profile, women held 29.5% of seats on company boards and 40.2% of management positions at the end of 2024.

"Bulgaria's inclusion in the OECD Corporate Governance Factbook 2025 recognizes the efforts of national institutions and the Financial Supervision Commission to improve the corporate governance framework and apply the best international standards", the Commission statement said.

One of Bulgaria's goals is to join the OECD. In recent years, the country has made targeted efforts to align its legislation with the organization's accession requirements.

In response to a parliamentary question this month, Foreign Minister Georg Georgiev stated that the political objective is to complete the current stage of technical reviews on Bulgaria's accession by the end of 2025 or early 2026. The Minister added that adherence to this schedule would enable the necessary work to be completed in time for the member states to make a decision to invite Bulgaria to join by mid-2026 and, consequently, for the accession procedure to be finalized by the end of 2026.