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Balanced and effective formalization of rules of corporate management are important for companies to implement reliable strategies and sustain on market. The paper outlines the board of directors’ responsibility within the OECD principles of corporate management. As the author states, relations between board of directors and a company management must be essentially improved in Kazakhstan. It is argued that the current state of board directors’ authority in Kazakhstan companies does not provide their involvement in developing and controlling strategic course and values on market.


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