Corporate governance is articulated as a system of relations between relationships between each company’s management, its Board of Directors,
and other stakeholders. Corporate governance also provides the structure by which the objectives of the company may be approached and set,
the key risks that the company faces identified, the means of attaining the corporate objectives determined while in parallel management’s performance monitoring is enabled through procedures for implementing appropriate policies and rules.
For companies with a public interest purpose,
τit is particularly important to maintain
high standards of corporate governance and transparency.
The basic corporate governance principles for state owned companies include: