Welcome to the

Centre for Good Governance

The CGG aims to contribute to a more efficient and transparent public sector, a more fair, productive, and just corporate world, and one where businesses and public organisations operate effectively and interact constructively to pursue their goals in a sustainable manner, by considering the interests of all stakeholders and society at large.


The Governing Principles of CGG

Please click the button below to download the Governing Principles of CGG.

The Strategic Areas of Focus

 – Good Governance

 – Comparative Review of Governance Models

 – Corporate Board Effectiveness: Roles, Responsibilities, Composition, Leadership

 – Corporate Governance Manuals

 – Business Ethics and Integrity

 – Green Finance and Sustainability

 – Applicable Legal and Regulatory Frameworks


Upcoming Event

Board-Level Representation of Employees (BLER): The Case of Cyprus

Event Location | EIMF Premises, 25 Megaron Street, Nicosia


Stavros Stavrou – Chairperson, Cyprus Chamber of Commerce and Industry (CCCI) | George Hadjikallis – Senior Officer, Cyprus Employers & Industrialists Federation (OEB) | Loizos Hadjicostis – Honorary Chair, Cyprus Union of Bank Employees (ETYK) | Panikos Argyridis – Cyprus Workers' Confederation (SEK) | Nikos Gregoriou – General Secretary, SIDIKEK PEO (Pancyprian Federation of Labour (PEO))

Moderator | Adonis Pegasiou – EIMF Academic Director

Event Language | Greek

In its upcoming event, the Centre for Good Governance (CGG) aims to explore the application of Board-Level Representation of Employees (BLER) in Cyprus.


In an era where shareholder supremacy is increasingly challenged by stakeholder-centric approaches, the role of employees—key stakeholders in any corporation—has been reevaluated. Environmental, Social, and Governance (ESG) criteria now address issues such as employee relations, compensation, and engagement, recognising the value of human capital, and thus bringing a new perspective on BLER.


Given that the EU has not decided to apply a common framework on BLER, different approaches prevail among European countries. Cyprus is one of those countries that has no legal or other framework that obliges corporations to shape their boards accordingly.


The seminar attempts to shed light on the practices adopted by local corporations and, through a constructive exchange of ideas, offer some valuable conclusions as to what may be considered best-practice. The event will be moderated by EIMF Academic Director Adonis Pegasiou and officials from both Employers and Employees associations will be presenting their views.

H Εκπροσώπηση των Εργαζομένων σε Επίπεδο Διοικητικού Συμβουλίου: Η περίπτωση της Κύπρου


Το Κέντρο Καλής Διακυβέρνησης (CGG) διοργανώνει ανοικτή εκδήλωση με στόχο να διερευνήσει την εφαρμογή της Εκπροσώπησης Εργαζομένων σε Επίπεδο Διοικητικού Συμβουλίου (Board-Level Representation of Employees – BLER) στην Κύπρο.


Σε μια εποχή όπου η προάσπιση των συμφερόντων των μετόχων δεν αποτελεί μοναδικό κριτήριο για λειτουργία μιας εταιρείας αλλά εξίσου σημαντικό ρόλο διαδραματίζουν και οι άλλοι ενδιαφερόμενοι (stakeholders), ο ρόλος των εργαζομένων -βασικών ενδιαφερόμενων μερών σε οποιαδήποτε εταιρεία- έχει επαναξιολογηθεί. Τα κριτήρια Περιβάλλοντος, Κοινωνικής διάστασης και Διακυβέρνησης (ESG) αντιμετωπίζουν πλέον ζητήματα όπως οι εργασιακές σχέσεις, οι απολαβές και η συμμετοχή των εργαζομένων, αναγνωρίζοντας την αξία του ανθρώπινου κεφαλαίου και φέρνοντας έτσι μια νέα προοπτική για το BLER.


Δεδομένου ότι η ΕΕ δεν έχει αποφασίσει να εφαρμόσει ένα κοινό πλαίσιο για το BLER, επικρατούν διαφορετικές προσεγγίσεις μεταξύ των ευρωπαϊκών χωρών. Η Κύπρος είναι από εκείνες τις χώρες που δεν έχουν νομικό ή άλλο πλαίσιο που να υποχρεώνει τις εταιρείες να διαμορφώνουν ανάλογα τα διοικητικά συμβούλια τους.


Το σεμινάριο επιχειρεί να ρίξει φως στις πρακτικές που υιοθετούν οι εταιρείες στην Κύπρο και, μέσω μιας εποικοδομητικής ανταλλαγής ιδεών, να προσφέρει μερικά πολύτιμα συμπεράσματα ως προς το τι μπορεί να θεωρηθεί βέλτιστη πρακτική. Την εκδήλωση θα συντονίσει ο Ακαδημαϊκός Διευθυντής του EIMF Άδωνης Πηγασίου και αξιωματούχοι τόσο από τις εργοδοτικές οργανώσεις όσο και από τις συντεχνίες θα παρουσιάσουν τις απόψεις τους.



Σταύρος Σταύρου | Πρόεδρος Κυπριακού Εμπορικού και Βιομηχανικού Επιμελητηρίου (ΚΕΒΕ)

– Γιώργος Χατζηκαλλής | Ανώτερος Λειτουργός Εργασιακών Σχέσεων & Κοινωνικής Πολιτικής Ομοσπονδίας Εργοδοτών & Βιομηχάνων (ΟΕΒ)

– Λοΐζος Χατζηκωστής | Επίτιμος Πρόεδρος Ένωση Τραπεζικών Υπαλλήλων Κύπρου (ΕΤΥΚ)

Πανίκος Αργυρίδης | Γενικός Οργανωτικός Συνομοσπονδίας Εργαζομένων Κύπρου (ΣΕΚ)

– Νίκος Γρηγορίου | Γενικός Γραμματέας της ΣΗΔΗΚΕΚ ΠΕΟ, Μέλος Εκτελεστικού Γραφείου Παγκύπριας Εργατικής Ομοσπονδίας (ΠΕΟ)



– Άδωνης Πηγασίου | Ακαδημαϊκός Διευθυντής EIMF, Επικεφαλής του Κέντρου Καλής Διακυβέρνησης

19 June


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CGG Event

Past Events

Venue | EIMF Premises, 25 Megaron Street, Nicosia

Date & Time | 14 March 2023 | 17:00-19:00

Speakers: Panikkos Poutziouris & Christos Photiades | Moderator: Elias Hadjielias ​

As part of Seminar Series for the Spring Semester 2023, the Centre of Good Governance invites family business owner-managers, next generation leaders and their professional / advisors to its first Seminar focusing on the Governance Structures for Strategic Development of Family Businesses -Business Families and their Single – Virtual Family Offices.

Video Recording

Venue | EIMF Premises, 25 Megaron Street, Nicosia

Date & Time | 06 April 2023 | 16:30-18:00

Speakers: Petros Florides & Dr. Adonis Pegasiou | Moderator: Marios Clerides

As part of the Open Seminar Series for the Spring Semester 2023, the Centre of Good Governance invites you to the second seminar of the Spring Semester 2023. The seminar will be focusing on policy options and actions available for bettering the governance of state-owned enterprises.  The aim is to initiate a discussion among the participants that in a constructive manner will promote the ongoing debate on how these organisations can be better governed in a way that will be beneficial to their operations, profitability and sustainability. The topic is considered to be of interest to state and government officials, directors and management staff of SOEs, political party officials, NGOs, academics and journalists and members of the wider public.

Video Recording

Venue | EIMF Premises, 25 Megaron Street, Nicosia

Date & Time | 03 May 2023 | 16:45-18:30

Opening Remarks: Ms Irene Piki | Speakers: Professor Dimitris Papadimitriou & Dr. Adonis Pegasiou | Moderator: Professor Haridimos Tsoukas

In the forthcoming seminar organised by the Centre for Good Governance our two speakers will be reviewing the cases of Greece and Cyprus, focusing on how the core executive is organised and the head of the executive (President or Prime Minister) establishes control and coordination across the government. Through a comparative perspective the aim will be to offer recommendations that will enhance the governance structures and allow for a better, more productive and efficient management of government. Professor Papadimitriou is the author of numerous publications on the matter, including the book ‘Prime Ministers in Greece: The Paradox of Power’ co-authored with Professor Kevin Featherstone (2015, Oxford University Press). Dr Adonis Pegasiou is part of the Research Project ‘Coordination at the Top: The Secretariats-General of the Executive in Europe’ by the European Group of Public Administration and has studied the case of Cyprus.

Video Recording

Venue | EIMF Premises, 25 Megaron Street, Nicosia

Date & Time | 14 June 2023 | 16:45-18:30

Opening Remarks: Ms Flora Cresswell | Speakers: MP Irene Charalambides, Mr Marios Kiriaku, Mr Antonis Baltas | Presenter and Moderator: Dr Anna Damaskou 

Wrongdoing in both the public and the private sectors is often committed in secret for a long time, during which, however, non-involved persons may become aware of such malpractices.  It thus becomes crucial for those who know of such actions to be encouraged to report unlawful/unethical behaviour while at the same time it is vital for those who choose do so (whistle-blowers) to be afforded adequate and effective protection.  In this context, the enactment and implementation of the recent Cypriot whistleblowing law raise significant challenges, which need to be addressed by the competent national authorities and corporate professionals in the public and the private sectors , respectively.

In the fourth seminar of the Centre of Good Governance these issues are addressed through a multidimensional perspective covering both legal and practical approaches through interventions of topic experts. The event will be moderated by Dr Anna Damaskou (CFE, CAMS, CGSS, CIPP/E, CIPM – EIMF Adjunct Faculty) and the following experts will be speaking: MP Irene Charalambides (OSCE PA Vice President and Special Representative on Fighting Corruption), Mr Marios Kiriaku (Chief Compliance Officer) and Mr Antonis Baltas (Criminal Lawyer & Adjunct Faculty - University of Nicosia). Introductory Remarks will be made by Ms Flora Cresswell of Transparency International (Regional Coordinator Western Europe)

Video Recording Part 1 | Part 2

Venue | EIMF Premises, 25 Megaron Street, Nicosia

Date & Time | 11 October 2023 | 16:45-18:30

Speakers: Professor Helen Louri-Dendrinou and Mr Marinos Lambrianides | Moderator: Professor Stavros Zenios

Though much has been written on how corporations and financial institutions should be best governed, the governance structure of financial regulators is a rather under-researched area. The aim of the seminar is to allow for experts in the field to share their expertise and experience and allow for a better understanding of how financial regulators are governed within the European framework, discuss best practices but also shed light on how the governance structure of the local financial regulator stands now.

Our two guest speakers will be Professor Eleni-Louri Dendrinou and Mr Marinos Lambianides. Professor Louri-Dendrinou is a member of the Appeal Panel of the Single Resolution Board of European banks in Brussels. From June 2008 to June 2014, she was Deputy Governor of the Bank of Greece. She is Professor of Economics at the Department of Economics of the Athens University of Economics and Business since 2001. Mr Marinos Lambrianides is the Director of Supervision at the Central Bank of Cyprus (CBC).

Professor Stavros Zenios will be moderating the seminar. Professor Zenios is Professor of Finance at the University of Cyprus (UCY) and Senior Fellow at the Wharton School, USA. He served two terms as Rector of UCY (2002-2010) while he also served on the Board of the CBC as a Non-Executive Director.

Video Recording

Venue | EIMF Premises, 25 Megaron Street, Nicosia

Date & Time | 22 April 2024 | 16:30-18:15

Discussants: Takis Klerides and Tasos Anastasiou | Moderator: Adonis Pegasiou

In response to the demand for engaging seminars, EIMF’s Centre for Good Governance proudly launches 'The Directors Series', a groundbreaking initiative tailored for Directors in Cyprus.

This first event, an armchair discussing focusing on Enhancing Board Performance and Effectiveness, is scheduled for 22 April 2024. Adonis Pegasiou (EIMF Academic Director and Head of Centre for Good Governance) will be moderating the discussion, alongside distinguished discussants Takis Klerides (Former Minister of Finance and Chairman of the Council of Economy and Competitiveness) and Tasos Anastasiou (Strategic Advisor, Chairman of the Council of the University of Cyprus).

What sets this series apart is its unique format. Adonis Pegasiou will steer discussions, with esteemed Directors, sharing insights and best practices. Participants will also engage through online multiple-choice questions, enriching the dialogue with their perspectives.

Don't miss this opportunity to gain valuable insights, network with industry professionals, and elevate your directorial skills.

Highlights Available

Venue | EIMF Premises, 25 Megaron Street, Nicosia

Date & Time | 27 May 2024 | 16:30-18:15

Moderator / Discussant: Petros Florides | Discussants: Eleni Neocleous and Demetris Demetriou

Following the success of our first event on ‘Enhancing Board Performance and Effectiveness’ and the positive feedback received by all participants, the Centre for Good Governance is delighted to announce the second event of ‘The Directors Series’ titled ‘Risk Governance’.

What sets 'The Directors Series' apart is its innovative structure and interactive approach. In this second event, Petros Florides will be guiding the discussion, with our esteemed discussants sharing insights and best practices on how risk governance applies the principles of good governance to the identification, assessment, management and communication of risks, thus helping businesses establish a foundation for proactive and effective risk management.

Moreover, all participants will have the opportunity to actively participate through online multiple-choice questions and interventions, thereby enriching the dialogue with their unique perspectives and personal experience.

Highlights Available


Corporate Governance Training Courses

The European Institute of Management and Finance (EIMF) is offering interactive and powerful training programmes delivered by local and international industry experts. View the upcoming training courses and secure your places!

Attain a Professional Certificate by AGRC!

The Association of Governance, Risk & Compliance (AGRC) is the fastest growing global community of GRC professionals. AGRC is a place for knowledge-exchange, professional networking and idea incubation.

Certificate in Corporate Governance

self-paced elearning course

The AGRC Certificate in Corporate Governance provides professionals with a thorough understanding of a topic that has gained increasing significance and attention amongst corporations, regulators, and researchers. At the same, the Certificate offers guidance as to how corporations can best prepare in creating solid governance structures that will help them deal with the myriad of modern-day corporate challenges and risks.


Meet The Advisory Council

Members of the CGG Council are established academics and professionals from different backgrounds who have experience and expertise in governance that expands both horizontally (i.e., covering many industries) and vertically (i.e., in-depth engagement with and specialisation on relevant issues).


The CGG also draws from the ample experience and competencies of its associates in order to secure the quality of research, training and consulting services offered. The CGG Advisory Council sets the Centre’s strategic direction. Furthermore, the Council Members are active in the organisation’s functioning. Additionally, the Centre has a broad network of Associates who are involved with its daily operations.

Dr. Anna Damaskou

Advisory Council Member

Dr. Marios Clerides

Advisory Council Member

Mr. Petros Florides

Advisory Council Member

Dr. Adonis Pegasiou

Dr. Adonis Pegasiou

Head of Advisory Council

Dr. Christina Livada

Advisory Council Member

Mr. Marios Siathas

Advisory Council Member

Mr. Takis Taoushanis

Advisory Council Member


Working Papers

The CGG series of Working Papers aims to stimulate discussion and contribute to the advancement of governance-related knowledge through the timely exchange of ideas. Academics, policymakers and professionals are provided with a platform to get findings out quickly, covering research work in progress, policy proposals, case studies and other relevant thematic areas.

Papers should be submitted to [email protected] and categorised as policy paper or research paper.

Proposal for Governance Framework for State Organisations and State Enterprises in Cyprus (Greek Edition)

Working Paper 1 (November 2022)

Proposal for Governance Framework for State Organisations and State Enterprises in Cyprus (English Edition)

Working Paper 1 (November 2022)

Coordination in Cyprus’s Presidential System – A Mistakenly Underrated Necessity (Author Adonis Pegasiou)

Working Paper 2 (September 2023)


Latest Articles

Read the latest articles written by our industry experts and the advisory council.

Introducing ‘The Directors Series’ by the Centre for Good Governance (CGG)

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