ASSESSMENT OF CORPORATE GOVERNANCE SYSTEM QUALITY: INTERNATIONAL AND NATIONAL APPROACHES

Abstract

This article analyzes the stages of corporate governance system formation in Uzbekistan, its national characteristics, and its relationship with international models. It is especially emphasized that the practice of corporate governance in our country is developing within the context of a transition to a market economy. However, the legislative framework remains underdeveloped, and corporate culture and behavioral traditions are still evolving. The article presents a comparative analysis of the key principles, structures, advantages, and disadvantages of the Anglo-Saxon and Continental European (German) models of corporate governance, as well as Japanese, Islamic, and other alternative approaches. Additionally, it discusses the characteristics of the emerging corporate governance model in Uzbekistan, such as the two-tier board system, the dominant role of banks, the practice of "golden shares," and other aspects. The author offers recommendations for improving the effectiveness of the corporate governance system, harmonizing international standards with national practices, fostering corporate culture, and adopting a corporate behavior code. Furthermore, the article highlights the trend of convergence between different corporate governance models and justifies the need to develop an effective and competitive national model for Uzbekistan