Аңдатпа
The article considers features of corporate government established by the UK Corporate governance code and the increasing necessity in the improvement of corporate governance. The author identifies key problems and analyzes basic models of modern corporate management. Main factors of the increase of enterprises’ corporate management efficiency identified by the author comprise academic novelty and practical value of the article. The article considers advantages of the “comply or explain” principle, which consists in adaptation of management rules to specific characteristics of individual companies. It is believed that this principle leads to better corporate governance outcomes than the «one size fits all» approach. However, the effectiveness of “comply or explain” approach depends on the existence of several crucial condition, such as quality of the explanation part of the principle. As it has been identified poor quality explanations can affect among others to the accountability and transparency of companies financial operations, the effectiveness of stock markets, the ability of shareholders to evaluate corporate behavior. Author analyses the corporate practice of some European countries, which implement the corporate practice of controlling companies’ explanations of inapplicable principle by establishing an independent monitoring body. However, it seems that such practice has some flows and such practice needs thorough evaluation before its implementation. The author also mentions Kazakhstani experience and contemplates on the future perspectives of the development of a corporate governance code in Kazakhstan