Eureka! Institutional Repository

This thesis was written for the purpose of analyzing the concept of Corporate Governance (CG) that first appeared in Anglo-Saxon countries on the beginning of the 20th century by the development of capitalism. In the modern world of business and the globalized market there is a growing need for the creation of rules of Corporate Governance. The last global economic crisis with the bankruptcy of large business groups and the revealing big corporate scandals made the need for more efficient management of companies by their boards of directors more imperative, and the common sense of supervision, control and full transparency of businesses, their transactions and the persons acting for them. The CG is now an indispensable part of the well-functioning of businesses, which through its action and its operation affects a large number of individuals, economic organizations and other stakeholder groups. The conversation about the Corporate Governance in Greece was began in 1998 at the initiative of the X.A.A. One year later at April 1999 the Capital Markets Commission, expressing its interest in establishing effective CG practices in Greek companies, recommended the “Corporate Governance Committee in Greece”. This committee of seventeen members, including academics, lawyers, civil servants, business representatives and capital market executives. The Commission has published a text entitled “Corporate Governance Principles in Greece: Recommendations to strengthen the effectiveness and competitive transformation of”. The basis for creating this code of authority was the internationally applicable and accepted practices of corporate governance while the rules and principles formulated were directly linked to the principles of O.O.S.A.’s corporate governance. Finally, there is a table showing the timing of CG in Greece.