Korporativno Upravljanje U Tranzicionim Ekonomijama
Corporate Governance In Transition Economics

Summary/Abstract: In developed market economies, a system of corporate governance has been built gradually through centuries, and today it can be defined as a complex mosaic consisting of laws, regulations, politics, public institutions, professional associations and ethics codes. However, in transition economy countries a lot of details of the mo- saic are still missing. Trying to develop a system of good corporate governance in these countries is made difficult by problems such as complex corporate ownership structures, vague and confusing relationships between the state and financial sectors, weak legal and judicial systems, absent or underdeveloped institutions and scarce hu- man resource capabilities. This research brings an often-overlooked governance problem in transition economies to the attention of management researchers. Three key areas deserve con- certed research attention in order to develop a sound corporate governance system for transition economies: the corporate governance framework, the appropriate corporate governance model and the specific corporate governance settings in transition econo- mies.

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