Corporate governance: tendencies of discussions

Abstract

On 27-28 November, 2008 5th International Workshop on Corporate Governance took place in European Institute of Advanced Management Studies in Brussels (Belgium). More than 50 specialists in from 25 European countries presented their reports concerning different issues of corporate governance. This paper is intended to summarize main issues discussed in the reports at the Conference. For the discussion goals we've divided our paper in the following way. First section is devoted to a general view on corporate governance issues discussed in the articles of Brussels Conference. First, we focus on different approaches used in corporate governance analysis. We will discuss the development of corporate governance theoretical models and some practical issues. Second, we will overview the articles devoted to the issues of corporate governance on emerging markets. After providing a general view on corporate governance we will emphasize the influence of corporate governance issues on corporate performance. On of the influence factor of corporate governance is an ownership structure. Its role is considered also in the Board's performance. The second section is devoted to the role of Board of Directors. This part of the paper concerns both Board's efficiency and special features of Board's functioning in non-commercial organizations. We will reveal several important features of Board's performance. One of the aspects of corporate governance that is discussed in the papers is the corporate social responsibility. A number of papers consider interdependence of corporate governance issues and corporate social responsibility when revealing the influence on corporate performance. At the end of the overview a relevant topic will be discussed: the financial crisis and the role of Board's on financial performance of the company this time. Key words: corporate governance, corporate performance, Board of Directors, independence of Board of Directors, ownership structure.