Basic Corporate Governance Problems in
Some South-Eastern European Transitional Economies
The main objective of this paper is to try research the current practice of corporate governance in certain South-Eastern European (SEE) Countries. On the basis of the analysis of a sample comprising 41 companies from five countries of the Region –Serbia and Montenegro, Bosnia and Herzegovina, The former Yugoslav Republic of Macedonia, and Albania –we shall try to highlight certain corporate governance problems which in various forms an ways arise in the whole Region.
This is actually a group of countries still undergoing the painful process of transition towards the establishment of a free market economy system. Also, these are countries which expect accession to the European Union in a foreseeable future. The existence of a number of problems in the sphere of corporate governance may have a negative impact on the total efficiency of economic performance, growth and development, and attractiveness of foreign investments. Hence, identifying problems, pointing them out and searching appropriate solutions may be extremely useful in preventing a slowing down of integration flows of Europe into a united geopolitical and economic space.