Protecting minority investors: Ease of shareholder suits index (0-10) (DB06-14 methodology) by country
The ease of shareholder suits index measures how likely plaintiffs are to access internal corporate evidence. It has six components: (i) whether shareholders owning 10% of the company’s share capital have the right to inspect the Buyer-Seller transaction documents before filing a suit; (ii) whether shareholders...
What the numbers show
Protecting minority investors: Ease of shareholder suits index (0-10) (DB06-14 methodology) is currently reported for 188 countries. The highest value is 10 DB06-14 methodology in Hong Kong, China; the lowest is 1 DB06-14 methodology in Viet Nam.
The median across all reporting countries is 6 DB06-14 methodology, and the mean is 5.71 DB06-14 methodology.
The gap between the highest and lowest reporting country is a factor of about 10.
Over the past decade 24 countries rose and 6 fell. The largest increase was in Morocco (up 500.0%), and the largest decrease in Burundi (down 33.3%).
Protecting minority investors: Ease of shareholder suits index (0-10): full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Hong Kong, China | 10 DB06-14 methodology | 2013 | unchanged | flat |
| 1 | Kenya | 10 DB06-14 methodology | 2013 | up 11.1% | rising |
| 1 | Mauritius | 10 DB06-14 methodology | 2013 | unchanged | flat |
| 1 | New Zealand | 10 DB06-14 methodology | 2013 | unchanged | flat |
| 5 | Canada | 9 DB06-14 methodology | 2013 | up 12.5% | rising |
| 5 | Ireland | 9 DB06-14 methodology | 2013 | unchanged | flat |
| 5 | Latvia | 9 DB06-14 methodology | 2013 | unchanged | flat |
| 5 | Nepal | 9 DB06-14 methodology | 2013 | unchanged | flat |
| 5 | Poland | 9 DB06-14 methodology | 2013 | up 12.5% | rising |
| 5 | Singapore | 9 DB06-14 methodology | 2013 | unchanged | flat |
| 11 | United States of America | 8.6 DB06-14 methodology | 2013 | down 4.4% | flat |
| 12 | Armenia | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Azerbaijan | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Bangladesh | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Belarus | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Brunei Darussalam | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Colombia | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Czechia | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Micronesia, Federated States of | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Guyana | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | India | 8 DB06-14 methodology | 2013 | up 14.3% | rising |
| 12 | Israel | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Japan | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Kyrgyzstan | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Lesotho | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Maldives | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Marshall Islands | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Malta | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Mongolia | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Malaysia | 8 DB06-14 methodology | 2013 | up 14.3% | rising |
| 12 | Panama | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Philippines | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Palau | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Papua New Guinea | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Puerto Rico | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Solomon Islands | 8 DB06-14 methodology | 2013 | up 14.3% | rising |
| 12 | San Marino | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Slovenia | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Tonga | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Tanzania, United Republic of | 8 DB06-14 methodology | 2013 | up 33.3% | rising |
| 12 | Uruguay | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | Samoa | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 12 | South Africa | 8 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Albania | 7 DB06-14 methodology | 2013 | up 133.3% | rising |
| 44 | Antigua and Barbuda | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Australia | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Belgium | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Bulgaria | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Bahamas | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Dominica | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Denmark | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Dominican Republic | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Finland | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Fiji | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | United Kingdom of Great Britain and Northern Ireland | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Georgia | 7 DB06-14 methodology | 2013 | up 40.0% | rising |
| 44 | Ghana | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Grenada | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Hungary | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Iceland | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Kazakhstan | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Kiribati | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Saint Kitts and Nevis | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Republic of Korea | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Saint Lucia | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Sri Lanka | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Republic of Moldova | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Mozambique | 7 DB06-14 methodology | 2013 | up 40.0% | rising |
| 44 | Norway | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Pakistan | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Portugal | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Slovakia | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Sweden | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Thailand | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Trinidad and Tobago | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Saint Vincent and the Grenadines | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 44 | Zambia | 7 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Angola | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Argentina | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Austria | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Belize | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Bolivia, Plurinational State of | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Barbados | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Bhutan | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Chile | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Cape Verde | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Cyprus | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Ecuador | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Estonia | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Italy | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Liberia | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Lithuania | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Morocco | 6 DB06-14 methodology | 2013 | up 500.0% | volatile |
| 78 | Montenegro | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Namibia | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Nicaragua | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Netherlands | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Peru | 6 DB06-14 methodology | 2013 | up 20.0% | rising |
| 78 | Paraguay | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Russian Federation | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Sierra Leone | 6 DB06-14 methodology | 2013 | down 25.0% | falling |
| 78 | El Salvador | 6 DB06-14 methodology | 2013 | up 20.0% | rising |
| 78 | Sao Tome and Principe | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Eswatini | 6 DB06-14 methodology | 2013 | up 20.0% | rising |
| 78 | Tajikistan | 6 DB06-14 methodology | 2013 | up 20.0% | rising |
| 78 | Tunisia | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Türkiye | 6 DB06-14 methodology | 2013 | up 50.0% | rising |
| 78 | Uganda | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Ukraine | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Uzbekistan | 6 DB06-14 methodology | 2013 | unchanged | flat |
| 78 | Taiwan, China | 6 DB06-14 methodology | 2013 | up 20.0% | rising |
| 112 | Bosnia and Herzegovina | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Central African Republic | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Germany | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Eritrea | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Spain | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | France | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Gambia | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Guinea-Bissau | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Greece | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Guatemala | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Croatia | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Lebanon | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Madagascar | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Mauritania | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Malawi | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Nigeria | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Palestine, State of | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Suriname | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Seychelles | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 112 | Vanuatu | 5 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Switzerland | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | China | 4 DB06-14 methodology | 2013 | up 100.0% | rising |
| 132 | Cameroon | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Algeria | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Equatorial Guinea | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Honduras | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Haiti | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Iraq | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Jamaica | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Mexico | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | North Macedonia | 4 DB06-14 methodology | 2013 | up 33.3% | rising |
| 132 | Myanmar | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Romania | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Rwanda | 4 DB06-14 methodology | 2013 | up 300.0% | volatile |
| 132 | Saudi Arabia | 4 DB06-14 methodology | 2013 | up 33.3% | rising |
| 132 | Sudan | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Serbia | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | South Sudan | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Timor-Leste | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 132 | Zimbabwe | 4 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | United Arab Emirates | 3 DB06-14 methodology | 2013 | up 50.0% | rising |
| 152 | Benin | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Burkina Faso | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Bahrain | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Brazil | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Botswana | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Côte d'Ivoire | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Congo | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Comoros | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Egypt | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Gabon | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Guinea | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Indonesia | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Cambodia | 3 DB06-14 methodology | 2013 | down 25.0% | falling |
| 152 | Kuwait | 3 DB06-14 methodology | 2013 | up 50.0% | rising |
| 152 | Libya | 3 DB06-14 methodology | 2013 | up 50.0% | rising |
| 152 | Luxembourg | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Mali | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Niger | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Chad | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Togo | 3 DB06-14 methodology | 2013 | unchanged | flat |
| 152 | Kosovo | 3 DB06-14 methodology | 2013 | down 25.0% | falling |
| 152 | Kosovo (UNSCR 1244) | 3 DB06-14 methodology | 2013 | down 25.0% | falling |
| 175 | Burundi | 2 DB06-14 methodology | 2013 | down 33.3% | falling |
| 175 | Costa Rica | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Ethiopia | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Lao People's Democratic Republic | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Oman | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Qatar | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Senegal | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Syrian Arab Republic | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Venezuela, Bolivarian Republic of | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 175 | Yemen | 2 DB06-14 methodology | 2013 | unchanged | flat |
| 185 | Afghanistan | 1 DB06-14 methodology | 2013 | unchanged | flat |
| 185 | Congo, Democratic Republic of the | 1 DB06-14 methodology | 2013 | unchanged | flat |
| 185 | Jordan | 1 DB06-14 methodology | 2013 | unchanged | flat |
| 185 | Viet Nam | 1 DB06-14 methodology | 2013 | unchanged | flat |
About this data
The ease of shareholder suits index measures how likely plaintiffs are to access internal corporate evidence. It has six components: (i) whether shareholders owning 10% of the company’s share capital have the right to inspect the Buyer-Seller transaction documents before filing a suit; (ii) whether shareholders owning 10% of the company’s share capital can request that a government inspector investigate the Buyer-Seller transaction without filing a suit; (iii) what range of documents is available to the shareholder plaintiff from the defendant and witnesses during trial; (iv) whether the plaintiff can obtain categories of relevant documents from the defendant without identifying each document specifically; (v) whether the plaintiff can directly examine the defendant and witnesses during trial (0-2); and (vi) whether the standard of proof for civil suits is lower than that for criminal cases. The index is computed based on the methodology in the DB06-14 studies.