Policy Brief on Corporate Governance in Ukraine
5 Pages Posted: 19 Nov 2006
Date Written: August 2006
This paper summarizes policy implications arising from available research, in particular from our studies on corporate governance in Ukraine. Overall it is recommended to improve enforcement of existent CG rules. Perhaps not only through courts but also through reformulating vague standards into "bright-line" rules. It is urgent to implement those CG rules that would provide better protection for minority shareholders and eliminate (or minimize) financial tunneling, and that have no ambiguity in the society about their expediency. For example, it seems there is no doubt about expediency of such rules as cumulative voting, pre-emptive rights, appraisal rights, approval rights granted to the majority of minority shareholders or/and independent directors to mention a few.
Keywords: policy brief, corporate governance, Ukraine, bright-line rules
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