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Competitiveness and Corporate Governance – The Case of Montenegro

Author

Listed:
  • Mijat Jocović

    (Faculty of Economics, University of Montenegro)

  • Nikola Milović

    (Faculty of Economics, University of Montenegro)

Abstract

This paper provides results of theoretical and practical researches obtained by the authors on the notion of competitiveness and corporate governance, as well as monitoring the creation and development of a corporate governance model in Montenegro in the period between 2002 and 2012. Furthermore, the authors have analysed the element of the corporate governance system in the reports on competitiveness of renowned international organisations. The purpose of this paper is to point out the influence of corporate governance quality on the improvement of the competitiveness level of firms and the country as a whole. Basic conclusion reached by the authors in the conduct of their research is that the reform implementation in Montenegro affected positively the corporate governance in the period between 2002 and 2012, as proven through better ranking reported by relevant international institutions

Suggested Citation

  • Mijat Jocović & Nikola Milović, 2013. "Competitiveness and Corporate Governance – The Case of Montenegro," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 16(48), pages 83-102, June.
    • Handle: RePEc:rej:journl:v:16:y:2013:i:47:p:83-102
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Shleifer, Andrei & Vishny, Robert W, 1997. "A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    3. Mercedes Delgado & Christian Ketels & Michael E. Porter & Scott Stern, 2012. "The Determinants of National Competitiveness," NBER Working Papers 18249, National Bureau of Economic Research, Inc.
    4. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    corporate governance; regulation; competitiveness; economic regulation; Montenegro.;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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