Publication: Corporate Governance Country Assessment : Ukraine
Date
2006-10
ISSN
Published
2006-10
Author(s)
World Bank
Abstract
This report assesses Ukraine's corporate governance policy framework and enforcement and compliance practices. It highlights recent improvements in corporate governance regulations, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Ukraine. Several developments have worked to improve the corporate governance environment in recent years, including high levels of economic growth and a growing demand for capital growth in Ukrainian industry. The equity market has boomed, and over 45 companies have issued depository receipts abroad. A corporate governance code was issued in 2003, and a number of private-sector and donor initiatives have continued to work to promulgate the code and introduce good practice at the company level. Several reforms have been carried out, including the passage of a new securities law. The report recommends: (i) a variety of legal reforms, including a revised company law that would be enacted by the Parliament, (ii) institutional strengthening, including focusing the enforcement activities of the Securities and Stock Market State Commission (SSMSC) on large and traded companies, and (iii) enhanced listing requirements for the top tier of the Persha Fondova Totgovelna System (PFTS), including a requirement to "comply or explain" compliance with the Ukraine Corporate Governance Principles.
Citation
“World Bank. 2006. Corporate Governance Country Assessment : Ukraine. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/89275485-c800-5682-b85f-b6d5c006cf53 License: CC BY 3.0 IGO.”