The role of the country peculiarities of corporate governance systems development in the assessment of their effectiveness

The purpose of the article is to illustrate the main characteristics of the corporate governance systems of the countries (Italy and Ukraine) with different level of their development. We then address the issue of corporate governance measurement for all countries and analyse the effectiveness of corporate governance indices. The paper concludes that there is no one "best" measure of corporate governance. The most effective corporate governance system depends on context and on banks' specific circumstances.