Background and Overview:

Fairness, transparency, responsibility, and accountability are the core values of corporate governance. They are also core principles of democracy. In light of the Asian financial crisis, high profile scandals in Russia and Latin America, and the increased focus placed on governance practices in the Middle East and North Africa, corporate governance has been brought to the forefront and has become a major issue for businesses in the increasingly globalized economy.  National business communities are learning and re-learning the lesson that there is no substitute for getting the basic business and management systems in place in order to be competitive internationally and to attract investment.

At its most basic level, corporate governance deals with issues that result from the separation of ownership and control. But corporate governance goes beyond simply establishing a transparent and responsible relationship between managers and owners. The presence of strong corporate governance standards provides increased access to capital and thereby aids economic development. Good corporate governance attracts investors by assuring them that the business environment is fair and transparent; that companies can be held accountable for their actions or lack thereof; and those investments can be protected and contracts enforced.

Many international organizations fund corporate governance initiatives, yet the approach taken by CIPE and its partners is unique. While stressing the value of international experience, CIPE and its partners rely on the "local knowledge" approach to reform. This methodology enables countries to identify their own specific corporate governance needs and improve international standards to reflect local realities and challenges. For example, in the Middle East and North Africa, CIPE programs have addressed issues such as the prevalence of family-owned firms and the lack of a term for corporate governance in the Arabic language.

CIPE’s corporate governance programs also operate in the belief that corporate governance cannot exist in a vacuum - it depends as much on the country’s overall institutional development as much as it relies on the internal practices of companies. The private sector, therefore, must take the lead in shaping institutions that sustain governance rather than simply improving internal management practices.

Javier Tovar (left), President of the Judging Committee at the Contest for Good Corporate Governance, presents "The Best Corporate Governance in a Privatized Company to Ludwig Meier, Instituitional Relations Manager of Telefónica Peru.

• CIPE Corporate Governance Conferences

• In CIPE's Bookstore
  In Search of Good Directors: Corporate Boards in Market and Transition Economies is a timely publication available through CIPE's on-line bookstore that addresses the issue of the role of directors and shareholders within a corporation and is a valuable resource for any company with a forward thinking strategy.

• 2001 Corporate Governance Conference at the OECD

• Remarks by Willard A. Workman at CIPE Corporate Governance Roundtable in Yekaterinburg

• Survey: "Role of Independent Directors in Enterprise Management" Key Findings

• Corporate Governance Seminar in Moscow (2000)

• Internet Resources
  OECD Online
  Visit OECD Online to learn about the Organisation for Economic Cooperation and Development's activities around the world on corporate governance.

• Corporate Governance Articles
  Read articles and speeches by businessmen and experts on corporate governance issues.

• Corporate Governance Reform in Eurasia
  Learn more about CIPE's corporate governance projects in Eurasia

• Country Focus: CIPE Projects to Improve Corporate Governance
  CIPE supports organizations worldwide in their efforts to promote corporate governance. Click on the link above to learn more about CIPE's projects and their partner organizations.

Programs and Resources:

• Speeches by SEC Chairman Christopher Cox on corporate governance reforms, market transitions, and the role of government.
  
  • Remarks at "The Other Russia" Conference in Moscow, Russia in July 2006 available in the following languages:
    • English
    • Russian
    • Spanish (Published in Perspectiva magazine)
      
      
  • Remarks before the Securities Industries Association/Tsinghua University Conference in Beijing, China in October 2005 available in the following languages:
    • English
    • Chinese
    • Arabic
  
  

• Good Corporate Governance: A Means to Help Build Competitiveness." Dr. Jesus Estanislao, President and CEO of the Institute of Corporate Directors, Djordjija Petkoski of the World Bank Institute, and CIPE's Executive Director John Sullivan present at at the Global Development Learning Netowork's session on corporate governance and competitiveness in Southeastern Europe.
• "Advancing Transparency and Accountability" - A Case Study from Egypt
• "Scoring Corporate Governance: A Framework for Implementation" - A Case Study from the Philippines
• The Changing Face of Contemporary Law: Family Controled Enterprises - Corporate Governance Issues and Succesion Planning by Mahomed J. Jaffer and Syed Bulent Sohail.
• Corporate Governance Survey of the Arab Banking Sector by the Union of Arab Banks - January 2007
• Corporate Governance Survey of the Egyptian Banking Sector by the Egyptian Banking Institute - July 2006
• Draft Stakeholder Recommendations on Corporate Governance in Non-Listed Companies in Pakistan.
• Hawkama.net - A comprehensive website dedicated to best practices of corporate governance and business ethics in the Middle East & North Africa in Arabic

• Internal Audit at Russian Enterprises - Summary of internal audit survey of boards of directors, top executives and internal audit directors

• Entrepreneurial Ethics and Corporate Governance in Russia - Report

• Entrepreneurial Ethics and Corporate Governance in Russia - Interviews

• Sky Radio's Interview with John Sullivan(audio) Regarding CIPE's Work on Corporate Governance

• Corporate Governance Handbook

• Keynote Speech, "Business Associations and Corporate Governance" from the Second International Symposium on Corporate Governance Reform that took place on October 16, 2003 in Beijing, China.

• 2nd Pan African Consultative Forum on Corporate Governance

• Corporate Governance Initiative: General Information and Introduction
  This USAID funded project examined corporate governance models and the economic transition progress in the former communist states of Eastern Europe and Eurasia.

• Instituting Corporate Governance in Developing, Emerging, and Transitional Economies: A Handbook CIPE, March 2002

• Building Competitive Advantage in Nations: Increasing Transparency, Combating Corruption and Improving Corporate Governance conference in Hungary. March 26 - 28, 2002

• Russian Corporate Governance Code
  On October 18, 2001, Kolesnikov presented the newly drafted Russian Corporate Governance Code to an international audience at the U.S. Chamber of Commerce in Washington, D.C.

• Corporate Governance: An Antidote to Corruption
  CIPE Workshop at the 10th International Anti-Corruption Conference in Prague, October 8, 2001

• Corporate Governance in Developing Countries and Emerging Economies
  A Policy Dialogue Meeting held April 23-24, 2001 in Paris, France

• OECD Principles of Corporate Governance

• International Chamber of Commerce's Corporate Governance Guide - A basic guide to corporate governance for business managers everywhere. This guide contains valuable information on accounting standards, auditing practices, rights of shareholders, Board of Directors and disclosure and transparency.