Proces razvoja tržišta kapitala na primeru srednjoevropskih i balkanskih zemalja
Development Process Of Capital Markets - The Example Of Central European And Balkan Countries

Summary/Abstract: Privatization processes, which marked the last quarter of the last century, are an effective method of improving the performance of state business enterprises and they were driven by government decisions in the developed and developing countries. With privatization processes, governments generally seek to achieve the same goals: 1) increase government revenues, 2) reduce government interference in economic trends, 3) strengthen economic efficiency, 4) increase competition, and 5) ensure the development of domestic capital markets. Numerous studies have confirmed that after privatization has been carried out, increased production, improved efficiency, increased investment in capital and dividend payments are recorded. The roots of corporate governance in developing countries and transition economies lie in the initiatives for privatization that have strengthened since the end of the seventies and eighties of the twentieth century. A healthy corporate structure is a fundamental prerequisite for the success of privatization, both from the standpoint of the government, which wants to sell a company, and in terms of potential investors. In addition, scandals associated with corporations put the improvement of corporate governance issues in the foreground, both in developing countries and transition economies and developed economies. This put corporate control into the center of interest of the international business community and international financial institutions.

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