Business Ethics and Corporate Governance, Second Edition

CORPORATE GOVERNANCE CHALLENGES IN DEVELOPING, EMERGING AND TRANSITION ECONOMIES

Establishing any one of institutions enumerated above is a necessary and challenging undertaking without which democratic markets and corporate governance cannot take root. Success requires that the private and public sectors work together to establish the necessary legal and regulatory framework and a climate of trust through ethical behaviour.

While the set of institutions described above is designed to be comprehensive, each region is in a different stage of establishing a democratic, market-based framework and a corporate governance system. Hence, each nation has its own particular set of challenges. Some of the general challenges confronting developing, emerging ...