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Central & eastern EuropeSeptember 2 2007

CZARs chew over coming clean

While some eastern European mega companies are improving corporate governance and listing abroad, others are moving back closer to the state. Ben Aris explains.
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“In the past, Ukraine was famous for making rockets, but the advantages of implementing good corporate governance is not rocket science,” says Roman Vodolazskyy, the chief financial officer of System Capital Management (SCM), the biggest industrial conglomerate in Ukraine.

Eastern Europe is a famously dangerous place to invest, but the explosive growth of all the economies in the region is pushing the leading companies towards improving corporate governance and reducing those risks fast.

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