US corporate governance is based on shareholder wealth maximization principles. Regulatory governing bodies include the Sarbanes-Oxley Act or 2002 (SOX), SEC, and guidelines of the stock exchanges like NASDAQ, etc. Also, court judgements from d...
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...ivatization process was the usage of the tender method which resulted in the large scales to foreign investors. The Estonian Privatization Agency, created in 1993 found out that 70% of the sale of companies privatized went to foreign owners.
Estonia Board Structure:
Much like Europe, Estonia has a two-tier board structure comprising of a supervisory and management board. The role of supervisory board is to plan activities, organize management and supervise activities of the management board whereas the management board’s role is to direct the company which is the executive body as well. Management board must follow the instructions of the supervisory board and get its approval for scope beyond certain economic transactions including the approval for selection of the management board members. Management board members cannot be part of supervisory board and vice-versa.
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