The Evolution of the OECD Corporate Governance Principles - A Comparative Analysis (1999–2023).

This paper explores the evolution of the OECD Corporate Governance Principles from 1999 to 2023, assessing their development and influence on global corporate governance systems. As a globally recognized benchmark, the OECD Principles have shaped governance practices in response to major financial crises, technological progress, and shifting economic landscapes. Over time, they have been widely adopted and adapted across jurisdictions, informing national governance codes and corporate strategies in diverse legal and economic contexts. Using a content analysis approach, this study identifies significant revisions, emerging themes, and their broader implications. The findings indicate a gradual shift from a shareholder-centric model toward a more inclusive framework that emphasizes sustainability, stakeholder engagement, and digital transformation. Across editions, there is a consistent strengthening of board accountability, transparency, and risk management practices. The 2023 revision, in particular, reflects contemporary priorities by incorporating ESG factors, corporate resilience, and digital governance. A comparative review of the four editions highlights the growing emphasis on corporate responsibility and adaptability in the face of economic and technological change. The study underscores the importance of ongoing refinement of governance principles to meet evolving global challenges and to maintain corporate trust and stability. By offering a detailed examination of the OECD Principles’ progression, this research enhances our understanding of governance dynamics and provides meaningful insights for policymakers, corporate leaders, and investors operating in today’s rapidly changing environment.