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| Author: | Krambia-Kapardis, M. Psaros, J. |
| Title: | The implementation of corporate governance principles in an emerging economy: a critique of the situation in Cyprus |
| Journal: | Corporate governance
2006 : MAR, VOL 14:2, p. 126-139 |
| Index terms: | corporate governance emerging markets cyprus |
| Freeterms: | compliance |
| Language: | eng |
| Abstract: | After the Cyprus stock exchange collapse in 2000, the Stock Exchange adopted a Corporate Governance Code. This article reports the findings of a study into levels of compliance with the Code by listed companies. The results suggest that only a small minority complied with all important features of the Code, and a large majority did not comply with any. The paper discusses possible reasons for this failure, including the infancy of the legislation and the lack of free market controls. It is stated that such a Corporate Governance Code, when introduced in develpoing countries, should be supported by other initiatives. |
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