CORPORATE GOVERNANCE AND ITS ROLE INADMINISTRATIVE AND ECONOMIC REFORM AN OVERVIEW OF EGYPT’S CORPORATE GOVERNANCE PRACTICES

The concept “corporate governance” has become one of the main pillars that must underpin economic units. It is one of the most prominent and important frameworks in the regional and international institutions and organizations. Corporate governance importance increased due to the economic change found place in the end of last century after the fall of communism system. This new economic system greatly depends on private companies, which are keen to study, analyze and apply governance framework. One of the most important institutions which are very much interested in the concept are: the International Monetary Fund (IMF) and the Organization of Economic Cooperation and Development (OECD). For all the above-mentioned information, the study presents an analytical review of the corporate governance concept, the importance of its determinants, the advantages and objectives of governance framework and its impact on companies’ and countries’ development. Also, the paper will briefly analyze the level of implementing good governance practices in Egypt prior and after the January 2011 revolution. And it will also shed the light on the Egyptian experience in applying corporate governance framework through a comparative study between the year 2005 and the year 2010. At the end, the researcher will present few general recommendations regarding how companies should apply a good governance framework; and will present few special recommendations for the Arab countries and Egypt to follow in order to attain a successful implementation of corporate governance. At last, the researcher will emphasize on areas for future research to be considered.