Реформа корпоративног управљања – правни и економски аспекти
Reform of Corporate Governance – Legal and Economic Aspects

Summary/Abstract: This work represents analysis of wide serie of comparative research, which is much experienced in scope of corporate governance and corporate law. Basic purpose of this work is to reconsider present influence of different legal structures and to also reconsider their advantages and disadvantages. Researches that were carried out at the beginning of twentieth century has documented huge differences in concentrations of ownership in publicly traded companies, depth and liquidity of equity markets, companyes dividend politics and accessibility of companyes external investments in different countries. Mutual element in explaining these differences is the how well are investors together with shareholders and creditors legally protected from expropriation at the hands of management and large block holders. This work describes differences between legal systems and their practical efficiency in different countries, and argues about possible basis of these differences, their implications and assesses possible reformed strategies of corporate governance. Legal approach is more useful for understanding of corporate governance as also for it reforming than banking and market orientated financial systems.

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