Corporate Governance between Legal Rules and Principles Organization for Economic Co-operation and Development (OECD) Analytical Legal Study

Governance has various concepts and holds significance across multiple sectors, including corporations, financial markets, and investment. It also plays a crucial role in curbing financial and administrative corruption. Consequently, the Organization for Economic Cooperation and Development (OECD) has given it considerable attention and established several principles for it. Despite the late emergence of the term "governance" and the OECD's establishment of its principles, national legislations—such as the Iraqi Companies Law—contain legal provisions that inherently encompass many corporate governance principles. The primary reason behind the OECD's adoption of specific governance principles was the economic and financial crises that affected companies and other financial institutions. Given the novelty of the subject of governance, its objectives are clearly demonstrated by identifying the concept of corporate governance and explaining the importance and motives for the spread of this concept in recent years, and then explaining the position of Iraqi legislation in terms of the principles of this governance in accordance with the principles of corporate governance set by the Organization for Economic Cooperation and Development. The research is based on the analytical approach by analyzing the legal texts in the Iraqi Companies Law related to corporate governance and explaining the extent of their conformity with the principles of governance set by the Organization for Economic Cooperation and Development and addressing the important aspects thereof and the necessity of applying them within these companies and absorbing them as much as possible.