Policy

Overview

UCGA provides research, tools and recommendations for developing better corporate governance standards in private, public and state-owned companies of Ukraine.

Good corporate governance can create significant value for shareholders, as well as value for society in general. Companies with good corporate governance tend to be higher valued, have better-managed risks, be more transparent, and more accountable.

Nonetheless, there is still little understanding of the fundamental principles of corporate governance in Ukraine.

UCGA will promote corporate governance principles in order to

  • help private owners efficiently separate ownership and management, allowing them to focus on new investment opportunities
  • given that state-owned enterprises make up a very large share of the Ukrainian economy – help the state efficiently separate its ownership from operational management, as well as separate this from its policymaking and regulatory functions;
  • increase operational efficiency of both private firms and SOEs;
  • protect investors, particularly minority shareholders; and
  • protect creditors

To achieve this, UCGA will initiate a large round table discussion on a national corporate governance code, promoting a better understanding of and a commitment to basic corporate governance principles.

Policy documents planned in 2018:

  • Recommendations on Corporate Governance in State-Owned Enterprises of Ukraine
  • Evaluation of the government’s SOEs reforms efforts
  • Corporate Governance Code of Ukraine
  • Recommendations for new corporate governance legislation

Public sector

  • UCGA will facilitate and participate in the public debate on the reform of corporate governance of state-owned enterprises.
  • Evaluation of the government’s SOEs reforms efforts: particular attention is required for the board setting process coordinated by the Ministry of Economy. UCGA will provide its independent evaluation of board member nomination procedures, board member composition, remuneration and other parameters.

Private sector

  • UCGA will advocate for corporate governance in private sector and prepare recommendations for private and public companies resulting in Corporate Governance Code of Ukraine. 
  • UCGA will also contribute to all ongoing corporate governance legislation changes participating in all discussions and providing it’s expert reports and proposals. 

Policy Documents