https://doi.org/10.36719/XXXX-XXXX/1/28-32
Asya Mehbaliyeva
Azerbaijan Cooperation University
https://orcid.org/0000-0003-0465-3917
The Experience of the Formation of Corporate Governance Principles
of Countries Experiencing a Period of Transition
Abstract
Transition countries face a number of difficulties in the process of transition from a socialist planned economy to a market economy. These changes directly affect the formation and application of corporate governance principles.
In such countries, it requires the development of the corporate management system, the implementation of economic and legal reforms, the privatization of property, the establishment of a market system, and the adoption of international standards.
The formation of corporate governance principles in transition countries is a complex and multifaceted process. Changes in the economic, legal and social environment affect the activities of enterprises and shape the development of their management systems. Faced with various challenges, these countries should ensure economic development, social stability and the creation of a sustainable environment by adopting modern corporate governance principles.
This process plays an important role not only in economic growth, but also in creating an environment that meets the social and ethical requirements of society. As a result, countries in transition are aiming to build a more sustainable and equitable economy by modernizing their corporate governance systems and implementing effective governance models. This creates a system that benefits both property owners and all stakeholders.
Keywords: management principles, corporate, entrepreneur, socialist, investor