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Importance of corporate governance in transition countries

The OECD Principles of Corporate Governance are not broadly accepted in transitional countries but are essential for the further economic development and especially for the faster capital market growth. The equitable treatment of shareholders is essential in the process of privatisation so government in each country is responsible for the full implementation of Corporate Governance Principles. The role of the Board of Directors in state owned companies, before the privatisation, is extremely important in order to keep the balance between public and private interest.

OECD principles; transitional countries; privatization

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