The Specificities of Organizational and Economic Development of Corporate Governance in the Chemical Industry
Abstract
In Uzbekistan the chemical and petrochemical industry is referred to one of the priority sectors of the national economy, and its impact on economic development is decisive. Today the chemical industry has been strengthening its leading positions in the economy and in the structure of export. In such development of chemical industry, the factor of corporate governance in the joint-stock companies of the sector, to a large extent, has taken on great importance. This paper investigates the specificities of organizational and economic development of corporate governance in the enterprises of country’s chemical industry leaded by ‘Uzkimyosanioat’ State Joint-Stock Company, with a special focus on formation of its corporate structure, economic performance, investment and mechanism of corporate governance of its associated sectoral companies. At the end, the paper gives special recommendations to further increase the effectiveness of corporate governance in companies of chemical industry, to improve its organizational and economic mechanism as well as to ensure its performance in compliance with international principles.