IMPACT OF INTERNATIONAL CORPORATE GOVERNANCE STANDARDS ON PPP PRACTICE IN CIS COUNTRIES

• Ibragimova Mokhinur Sanat qizi

  Master's student of Tashkent State University of Law

The thesis analyses the impact of international corporate governance standards on legal and practical implications of public-private partnerships (PPPs) in the Commonwealth of Independent States (CIS) countries. Based on a scientific method, the coordinate system of CIS corporate and PPP laws with the global governance principles, including the G20/OECD Principles of Corporate Governance and associated best practices, is examined. The research concludes that the implementation of global accepted standards of corporate governance, which feature greater transparency, accountability and investor protections, influences PPP structures in CIS states positively. These standards have been used to inform legislative reforms (e.g. model PPP laws), and corporate law enhancements that enhance investor confidence, equitable risk-sharing, and the rule of law in PPP projects. Nevertheless, the study also provides the implementation challenges which include enforcement gaps and international norms that should be adjusted to fit in the local legal contexts. 

1.OECD. (n.d.). Corporate governance guides how a company is directed and controlled. OECD. https://www.oecd.org/en/topics/policy-issues/corporate-governance.html#:~:text=Corporate%20governance%20guides%20how%20a,global%20standard%20in%20this%20area

2.OECD. (n.d.). Good governance facilitates companies’ access to finance and supports innovation and corporate investment. OECD. https://www.oecd.org/en/topics/policy-issues/corporate-governance.html#:~:text=Good%20governance%20facilitates%20companies%E2%80%99%20access,supports%20innovation%20and%20corporate%20investment

3.European Bank for Reconstruction and Development. (2019). Law in Transition 2019: CIS model PIP. https://www.ebrd.com/content/dam/ebrd_dxp/assets/pdfs/legal-reform/law-in-transition-journal/2019/law-in-transition-2019-english-cis-model-pip.pdf

4.European Bank for Reconstruction and Development. (2019). Law in Transition 2019: Foreword. https://www.ebrd.com/content/dam/ebrd_dxp/assets/pdfs/legal-reform/law-in-transition-journal/2019/law-in-transition-2019-english-foreword.pdf

5.OECD. (n.d.). Corporate governance. OECD. https://www.oecd.org/en/topics/policy-issues/corporate-governance.html

6.European Bank for Reconstruction and Development. (2019). Law in Transition Journal 2019. https://www.ebrd.com/home/what-we-do/policy-and-business-advice/legal-reform/law-in-transition-journal/law-in-transition-2019.html

7.OECD. (2023). G20/OECD Principles of Corporate Governance. https://www.oecd.org/en/publications/g20-oecd-principles-of-corporate-governance-2023_ed750b30-en.html

8.European Bank for Reconstruction and Development. (2023). Law in Transition 2023: Public-private partnerships for promoting sustainable development goals. https://www.ebrd.com/content/dam/ebrd_dxp/assets/pdfs/legal-reform/law-in-transition-journal/2023/law-in-transition-2023-english-fag-public-private-partnerships-for-promoting-sustainable-development-goals.pdf

9.OECD. (2023). G20/OECD Principles of Corporate Governance. https://www.oecd.org/en/publications/g20-oecd-principles-of-corporate-governance-2023_ed750b30-en.html

10.European Bank for Reconstruction and Development. (2019). Law in Transition 2019: Foreword. https://www.ebrd.com/content/dam/ebrd_dxp/assets/pdfs/legal-reform/law-in-transition-journal/2019/law-in-transition-2019-english-foreword.pdf

11.World Bank. (n.d.). PPP Knowledge Lab. https://ppp.worldbank.org/

12.European Bank for Reconstruction and Development. (n.d.). Delivering knowledge: Law in Transition – Special Edition. https://www.ebrd.com/content/dam/ebrd_dxp/assets/pdfs/legal-reform/law-in-transition-journal/special-edition/litse-delivering-knowledge.pdf

13.World Bank. (n.d.). Transparency, good governance and anti-corruption mechanisms in PPPs. https://ppp.worldbank.org/public-private-partnership/keyword/transparency-good-governance-and-anti-corruption-mechanisms

14.OECD. (n.d.). Corporate governance. https://www.oecd.org/en/topics/policy-issues/corporate-governance.html

• PDF

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.