Tuesday 9 December 2008

Slovakia: corporate governance code available on ECGI website

The directory of corporate governance codes maintained by the European Corporate Governance Institute has been updated to include a copy, in English, of the Slovakian corporate governance code (produced by the Central European Corporate Governance Association). In the introduction to the code it is stated:

The principles of the Code should be a guideline for companies without being too restrictive. They should ensure a balance between control and entrepreneurial freedom, and also foster communication and transparency in the company’s corporate governance. The principles and recommendations are very flexible in their nature, which allows for their implementation in every company regardless of size, orientation or corporate culture. The ‘comply or explain’ basis allows companies a certain degree of deviation from the principles, provided that it is justifiable by specific conditions and an appropriate explanation is given"

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