The Revised OECD Principles of Corporate Governance and their Relevance to Non-OECD Countries

The OECD Principles of Corporate Governance were endorsed by OECD Ministers in 1999. It is an international benchmark for policy makers, investors, corporations and other stakeholders worldwide.

The Principles were revised in 2004 to respond to corporate governance developments including corporate scandals that further focused the minds of governments on improving corporate governance practices. The 2004 revision of the Principles reflects not only the experience of OECD countries but also that of emerging and developing economies. Key questions discussed during the review meeting included:

• What are the Principles and what key issues do they address?
• What do the Roundtables and Principles say about strengthening enforcement?
• What do the Roundtables and Principles say about minority shareholder protection?
• How to strengthen the ownership role of shareholders?
• How do the Roundtables and Principles deal with conflicts of interest?