Modeli i značaj korporativnog upravljanja u procesu približavanja Bosne i Hercegovine Evropskoj uniji
Models and importance of corporate governance in process of accession of Bosnia and Herzegovina to European Union

Summary/Abstract: An effective system of corporate governance is considered a key element of sustainable economic growth, increased efficiency and growth of investor confidence. In addition, well corporate governance ensures an efficient use of societal resources and leads to better relations with workers, creditors and other interested parties. This paper endeavours to show the significance and basic concepts of corporate governance, OECD principles, as well as the monistic and dualistic model of corporate governance together with examples from the EU Member States. All the countries committed to EU accession are also expected to implement structural reforms of their legal, political and economic systems. This paper further emphasises reform processes in Bosnia and Herzegovina, the importance of establishing a modern and efficient corporate governance system, as the foundation for development of efficient and stable market economy and clear indication of approximation of BiH legislation to the EU law and practice in this area. The establishment of a modern corporate management system in the economy of Bosnia and Herzegovina is of crucial importance for its development in the future. This paper also presents individual measures which Bosnia and Herzegovina needs to undertake in order to improve corporate sector as well to fulfil requirements on its path towards the European Union.

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