The failures of major corporations (Enron, Arthur Andersen, Marconi, Parmalat) have revealed the importance of a good corporate governance and have shown that inadequate corporate governance, even in conditions of a well developed market economy, may seriously affect both the shareholders, the stakeholders (creditors, the state, the investors, the suppliers, the consumers) and the well being of many layers of the population - the employees, the depositors, the retired.

It should be mentioned that the emerging problems could have less negative consequences if more efficient methods existed for control and monitoring of the responsibility of corporate management and of the transparency of their activity.

There are also numerous examples of this sort in the Republic of Moldova, if we are to recall the failures of the capital market and banking sector.