| Abstract [eng] |
Due to the rapid development of global economy market, special attention has been paid to economic, social and legal processes that have decisive significance for corporate governance. In order to improve the institute of corporate governance around the world, authorities create codes where the most important principles of successful governing are introduced. Thus, this paper discusses the importance, aims and historical development of codes of corporate governance. Special attention is given to the Code of corporate governance of Vilnius stock exchange and OECD principles of corporate governance. In addition, the present paper attempted to evaluate the real situation concerning the compliance to the Code of corporate governance of Vilnius stock exchange. Therefore, there has been made an analysis that revealed the advantages and drawbacks of the code. The analysis included the examination of annual reports of companies, which aimed at showing how implementation of principles of corporate governance increase transparency of operations and other activities of companies listed in Vilnius stock market. The results of the analysis have indicated that the announcement of codes has a positive effect, however, the core principles ensuring work transparency are not implemented properly. |
