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The Implementation of Corporate Governance Principles in an Emerging Economy: a critique of the situation in Cyprus

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  • Maria Krambia-Kapardis

    (Intercollege, Nicosia, Cyprus.)

  • Jim Psaros

    (Newcastle Business School, The University of Newcastle, Australia.)

Abstract

When the Cyprus economy was booming in the 1990s, key issues emanating from sound corporate governance, such as accountability, transparency and effective independent boards were not deemed important. However, largely as a result of the Cyprus stock exchange collapse of 2000, this view changed. In September 2002, due to the collapse, the Cyprus Stock Exchange implemented a Corporate Governance Code predicated largely on Anglo-Saxon principles of corporate governance. Copyright (c) 2006 The Authors; Journal compilation (c) 2006 Blackwell Publishing Ltd.

Suggested Citation

  • Maria Krambia-Kapardis & Jim Psaros, 2006. "The Implementation of Corporate Governance Principles in an Emerging Economy: a critique of the situation in Cyprus," Corporate Governance: An International Review, Wiley Blackwell, vol. 14(2), pages 126-139, March.
  • Handle: RePEc:bla:corgov:v:14:y:2006:i:2:p:126-139
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    References listed on IDEAS

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    1. Jim Psaros & Michael Seamer, 2004. "Australian Audit Committees — Do They Meet Best Practice Guidelines?," Australian Accounting Review, CPA Australia, vol. 14(34), pages 77-85, November.
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    Cited by:

    1. Judy Day & Peter Taylor, 2010. "Trajectories of accounting and auditing development in EU enlargement: comparative analysis of ten new member states," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 14(4), pages 313-350, November.

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