A REVIEW OF CORPORATE GOVERNANCE IN UZBEKISTAN

Gulhayo Nusratova; Indira Khadjieva

A REVIEW OF CORPORATE GOVERNANCE IN UZBEKISTAN

Authors

Gulhayo Nusratova Westminster International University in Tashkent
Indira Khadjieva Westminster International University in Tashkent

Keywords:

corporate governance, privatized companies, joint-stock companies, ownership structure

Abstract

This article reviews the composition of owners and the legal framework for the activities of limited companies formed from joint-stock companies in Uzbekistan. The review reveals that as a result of privatization in practice, large investors have accumulated controlling shares in Uzbek limited companies. Moreover, it was suggested that an effective structure of ownership must be formed to ensure adequate corporate governance.