The best Experts' Views, Marks and Forecasts on Economics >>
21 July 2010
For more than a decade, the Center for International Private Enterprise (CIPE) has pioneered corporate governance projects worldwide as part of its mission to combat corruption and strengthen democratic, market-based economies. Early initiatives focused on Central and Eastern Europe and Asia. Yet across the globe, members of the private and public sectors and civil society have begun to realize that the future of their economy and thus their livelihood hinges on adopting sound corporate governance measures. Today, CIPE-sponsored corporate governance projects are in full swing in all regions of the world. Corporate governance is a means whereby society can be sure that large corporations are well-run institutions to which investors and lenders can confidently commit their funds. It is now increasingly clear that having a transparent and fair system to govern markets, fair treatment of all stakeholders, and a chance for every entrepreneur with a good product to be successful, are as important to democracy as political institutions and are crucial to sound market economies. Corporate governance creates safeguards against corruption and mismanagement, while promoting fundamental values of a market economy in a democratic society.
31 May 2010
Corporate governance has become an essential tool for improving corporate performance and advancing the development of market-oriented democracies. Good governance practices maintain the integrity of business transactions and in so doing strengthen the rule of law and democratic governance. A powerful antidote to corruption, corporate governance clarifies private rights and public interests, preventing abuses of both. This toolkit introduces key concepts in corporate governance, provides a framework for applying corporate governance principles to emerging markets situations, and outlines the four-step strategy developed by the Center for International Private Enterprise for corporate governance reform. The toolkit includes: • Benefits of corporate governance • Basic principles • Internal and external aspects of firm governance • CIPE’s four-step strategy for corporate governance • Five examples of actual reform programs