Corporate Governance in transition economies: papers presented in scientific conferences by Rezart Dibra

 
9781511898379: Corporate Governance in transition economies: papers presented in scientific conferences by Rezart Dibra
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Corporate governance issues are especially important in transition economies, since these countries do not have the long-established financial institution infrastructure to deal with corporate governance issues. All over the World we see a significant challenge for business in addressing the demands of different stakeholders. Business has been caught in the gap between long-term global challenges exacerbated by the financial crises and economic collapse. This paper offers a comparative insight to the most important issues of corporate governance in selected economies of South-Eastern Europe. The implementation of corporate governance in transition economies, where Albania is one of the countries that have implemented such corporate governance principles, require a suitable legal framework and relevant protection of minority shareholders. In 2008 the new law “On entrepreneurs and commercial companies”was enacted.The latter introduced new practices and concepts, some of them not familiar to the Albanian legal system. It is widely accepted that both the private sector and governments can benefit from identification of the most important determinants and implications of a good corporate governance system. Both sides of corporate governance systems have a common goal - the protection of investors' rights and transparency of the system in which transactions take place. However, it is also well recognized that systems of corporate governance in attempt to gain necessary level of harmonization and consistency rely heavily on contextual factors of specific economies. Comparative approach used in the paper uncovers differences in major corporate governance issues which currently occur in selected transition countries. Specifically, the research covers corporate governance in selected economies of South-East Europe (Western Balkans). It is widely accepted that both private sector and governments can benefit from identification of the most important determinants and implications of good corporate governance. Corporate governance systems have a common goal – protection of investor’s rights and transparency of the system in which transactions take place. However, it is also well recognized that systems of corporate governance in attempt to gain necessary level of harmonization and consistency rely heavily on contextual factors of specific economy.

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