CORPORATE GOVERNANCE CHALLENGES IN EMERGING MARKETS: EVIDENCE FROM CENTRAL ASIA

Abstract

This article explores the specific challenges and development trends of corporate governance in emerging markets, focusing on the Central Asian region. The study analyzes factors such as low transparency in joint-stock companies, weak mechanisms for protecting shareholder rights, and the high share of state ownership in the economy. Furthermore, the paper highlights the impact of the institutional environment on the effectiveness of corporate governance and the barriers to integrating international standards into national legislation. The findings of the research provide scientific and practical recommendations for modernizing corporate governance models to enhance the investment attractiveness of the countries in the region