Concorde Capital maintains corporate governance ratings for listed Ukrainian companies, targeted at foreign investors active in Ukrainian equities. Our first report in February 2007 received rave reviews from investors, lawmakers and the companies themselves, and an update was released in May 2008. The overwhelming interest in this topic from these three main groups has led us to put together this webpage to inform and educate local companies about the importance and benefits of strong corporate governance practices and assist in implementing them in their own companies. Additionally this site allows us to inform foreign investors of the state of corporate governance in Ukraine.
Concorde Capital Corporate Governance Ratings
Corporate Governance Rating of Ukrainian companies by Concorde Capital. May 2008. Concorde Capital is proud to release its 2008 Corporate Governance rating of Ukrainian companies, the follow-up to the first-ever comprehensive study on the subject last year. With this report, we extend the number of companies covered from 117 to 175, encompassing all sectors of the Ukrainian equity market, including those companies listed on foreign exchanges. Our study showed a marked improvement in the profile of public Ukrainian companies' corporate governance over the last year; the average score was 1.9.
To draw attention to the growing number of Ukrainian companies introducing investor relations departments to boost their companies’ dialog with the investment community, below we have included links to company websites and corporate governance related materials. The companies included on this list are those we believe have the most well-organized and informative sites (from the stand point of an investor).
In response to the growing demand that we have received from Ukrainian companies to assist them in the improvement of their corporate governance standards Concorde Capital has put together a corporate governance tool kit to provide reference materials to those companies looking to establish codes of corporate governance and facilitate higher internal corporate governance standards.
CFA Institute: The Corporate Governance of Listed Companies. A Manual for Investors. This document was put together by the CFA Center for Financial Market Integrity and looks at corporate governance from the point of view of investors and endeavors to provide them a way of assessing a company’s corporate governance policies, and the associated risks. The goal of this text is to provide existing shareowners, potential investors and analysts with information they can use as part of their analyses and valuations.
OECD Principles of Corporate Governance. The OECD Principle of Corporate Governance were endorsed by the Organization for Economic Cooperation & Development (OECD) Ministers in 1999 and serve as an international benchmark for policy makers, investors and corporations and other stakeholders worldwide. This document provides specific guidance for legislative and regulatory initiatives in both OECD and non OECD countries. Additionally the Principles help companies better understand how good corporate governance contributes to their competitiveness.
Galnaftogaz Corporate Governance Code. Galnaftogaz was one of the first Ukrainian companies to develop and publish its own code of corporate governance and we believe this document provides a shining example for other companies looking to implement higher corporate governance standards.
